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3 years ago

Use the cost information below for Sundar Company to determine the cost of goods manufactured during the current year:

Business

1 answer:

wel3 years ago

3 0

Answer: cost of goods manufactured during the current year: $95,600

Explanation:

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing Overhead

But

Manufacturing Overhead= Cost added during accounting period + beginning work-in-process - ending work-in-process

= $51,100 + $11,500 - $12,100

=$50,500

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing Overhead

=$19,800 + $25,300 + $50,500

=$95,600

or Using the formulae

Costs Added = Direct Materials Used + Direct Labor + Factory Overhead

=$19,800 + $25,300 + $51,500 = $96,200

Cost of Goods Manufactured = Costs Added + Beginning Work in Process − Ending Work in Process Cost of Goods Manufactured

$96,200+ $11,500 - $12,100=$95,600

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wist Corp. has a current accounts receivable balance of $330,800. Credit sales for the year just ended were $3,804,200. a. What

Alex17521 [72]

Answer:

Receivables turnover = 11.50 times

Days' sales in receivables = 31.74 days

Average collection period = 31.74 days

Explanation:

Receivables Turnover Ratio

Receivables turnover = Credit Sales / Receivables

= $3,804,200 / $330,800

= 11.50 times

Receivables turnover ratio measures how many times a company's receivables are converted to cash in a period. A high receivables turnover ratio can indicate that a company’s collection of accounts receivable is efficient and that the company has a high proportion of quality customers that pay their debts quickly.

Days' sales in Receivables/ Average Collection Period

Days' sales in receivables = 365 days / Receivables turnover

= 365 / 11.50

= 31.74 days

On average, credit customers took 31.74 days to pay off their accounts.

The days' sales in receivable ratio which is also known as the average collection period tells you the number of days it took on average to collect the company's accounts receivable during the past year.

6 0

3 years ago

Which statement best summarizes the role of businesses in the flow of

Tems11 [23]

Answer: D

Explanation:

apex

5 0

3 years ago

Corporate financing comes ultimately from:_______

zhannawk [14.2K]

Corporate financing comes ultimately from savings by households and foreign investors.

Option b

Explanation:

The respective government will formulate the corporate financing policy according to the economic need of the country. The economic policies will also device the rules and regulations for the corporate financing either in the way of banking institution or by foreign investment.

Corporate financing done by the banking institution will have the contribution from savings of households and another type of funding is foreign investment which is carried out by joint venture agreement. This way the country’s economy will mainly depends on corporate financing.

3 0

3 years ago

On January 2, 2017, the board of directors of Michael declared a 10% stock dividend to be distributed on February 15, 2017. The

frozen [14]

Answer:

the decrease in the value of the retained earning is $172,500

Explanation:

The computation of the decrease in the value of the retained earning is given below:

The dividend of the stock is

= (25,000 shares - 2,000 shares) × 10% × $75

= $172,500

Since there is the stock dividend of $172,500 so it ultimately reduced the retained earning account by $172,500

8 0

3 years ago

Assume that a U.S. firm considers investing in British one-year Treasury securities. The interest rate on these securities is 12

MArishka [77]

Answer:

equal to the british interest rate

Explanation:

Data provided in the question

The Interest rate on these securities = 12%

In the U.S, the interest rate = 10%

Also the spot rate for today would become suitable for the spot rate

Based on the above information, the effective yield on the british securities would be equivalent to the british interest rate and hence the same is to be considered

7 0

3 years ago