1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
natali 33 [55]
3 years ago
11

Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $552,500 Inventories: Beginning of y

ear 200,000 End of year 140,000 Determine the number of days' sales in inventory for the year. a.92.5 days b.112.3 days c.39.6 days d.132.1 days
Business
1 answer:
nikitadnepr [17]3 years ago
7 0

Answer:

b.112.3 days

Explanation:

The computation of the number of days' sales in inventory for the year is shown below:

Day inventory outstanding = {(Beginning inventory + ending inventory) ÷ 2}÷ cost of goods sold × number of days in a year

= {($200,000 + $140,000) ÷ 2} ÷ ($552,500) × 365 days

= ($170,000)  ÷ ($552,500) × 365 days

= 112.3 days

You might be interested in
Two firms, such as a small local, family-owned Italian restaurant and Olive Garden, share few markets and have little similarity
enyata [817]

Two firms, such as a small local, family-owned Italian restaurant and Olive Garden, share few markets and have little similarity in resources, but are nonetheless direct and mutually acknowledged competitors - False

<h3><u>Explanation:</u></h3>

A state of rivalry that exists between any  company that sells identical or similar products and services refers to the competitors. There are two types of competitors such as direct and indirect competitors. Direct competitors are the firms that sells same kind of goods and services. They also focus on the same market segment and also customers.

Indirect competitors refers to those companies that sells similar goods and services but, they will not be having similar end goals. The given statement is false since the firms given are sharing only few of the markets and also have less similarity in the resources. Hence they cannot be competitors either directly or indirectly.

6 0
3 years ago
Tara purchased a machine for $40,000 to be used in her business. The cost recovery allowed and allowable for the three years the
nexus9112 [7]

Answer:

c. $11,480

Explanation:

Given that

               Cost recovery allowed                Cost recovery allowable

Year 1         $16,000                                                $8,000

Year 2        $9,600                                                  $12,800

Year 3        $5,760                                                  $7,680

The computation of gain should Tara recognize is shown below:-

Cost                                           $40,000

Less:

Greater cost of recovery

allowable or allowed

Year 1                $16,000

Year 2               $12,800

Year 3               $7,680            $36,480

Adjusted basis                          $3,520

Gain to be recognized = Residual value - Adjusted basis

= $15,000 - $3,520

= $11,480

So, for computing the gain to be recognized we simply deduct the adjust basis from residual value.

7 0
3 years ago
The leading producer of cell phone backup batteries, Jumpstart, has achieved great success because they produce high-quality bat
Serjik [45]

Answer:

shakeout stage    

Explanation:

Shakeout generally refers to market restructuring. Many companies are simply excluded as they can not expand alongside the market or continue to generate adverse cash flows.

Many firms have integrated with rivals or are purchased at the growth stage by those who have been able to get bigger market shares.  As of the shake-out level, revenue growth, cash flows, and income begin to decline as business reaches maturity.      

4 0
3 years ago
Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses a job order cost system. The time tick
labwork [276]

Answer:

Explanation:

Job 11-101=$3,880

Job 11-102= $2,630

Job 11-103= $2,080

Job 11-104= $3,190

Job 11-105= $2,080

Total            13,860

Direct labor rate = $18

Predetermined overhead rate = $22

Direct labor hour = 13,860/18 = 770 hours

Applied factory overhead rate = 770 *22 = $16,940

                                      Factory labor cost

                                       Dr                        Cr

Work in progress        13,860

Factory Overhead       18,000

Wages payable                                          31,860

                                    Factory Overhead

Work in progress        16,940

Factory overhead                                       16,940

7 0
3 years ago
Why would those reviewing a business plan want to know the life cycle of a product?
emmainna [20.7K]
A business plan composes of many key components and one of this is the products and services. Therefore, when reviewing a business plan, the life cycle of the product is important because it would help establish expectations regarding how often the customer will need the business. The answer to this would be option D. Hope this helps.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
    14·1 answer
  • What is a major corporation that includes a number of smaller companies in unrelated industries?
    9·1 answer
  • Sonia Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $60,000. During 2020, it wrote off $43,200 of a
    12·1 answer
  • 1. Lily operates a gift shop and has a lot of inventory to manage. She counts inventory once every 4 weeks. Preparing and placin
    15·2 answers
  • You want to endow a scholarship that will pay $ 7 comma 000$7,000 per year​ forever, starting one year from now. if the​ school'
    9·1 answer
  • Company Name: XXX XXX Coffee Co
    10·1 answer
  • Yuhhhhhhh yu alr know the vibesss<br> im now a expert yhhhhhhhhhhhhhhhhhhhhh
    6·2 answers
  • Renfro Corporation’s bonds will mature in 10 years. The bonds have a face value of $1,000 and an 8% coupon rate, paid semiannual
    14·1 answer
  • Describe the customer intimacy and operational excellence related information problems that drove PepsiAmericas to adopt a more
    8·1 answer
  • Accounts payable, notes payable, and bonds payable are all common ______. multiple choice question. categories of assets liabili
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!