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Lemur [1.5K]
3 years ago
13

The accounts receivable turnover is computed by dividing gross sales by ending net receivables. gross sales by average net recei

vables. net sales by ending net receivables. net sales by average net receivables.
Business
1 answer:
kolbaska11 [484]3 years ago
8 0

Answer:

The accounts receivable turnover is computed by dividing <u>net sales by average net receivables.</u>

Explanation:

The accounts receivable turnover is used to quantify a company's effectiveness in collecting its receivables from its clients.

Accounts Receivable Turnover =  Net Credit Sales  / Average Accounts Receivable

A high receivables turnover ratio can indicate that a company’s collection of accounts receivable is efficient and a low receivables turnover ratio might be due to a company having a poor collection process.

​

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An economist makes an assumption that each additional year of education causes future wages to rise by 7 percent. In this​ model
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Wage year 4= $12222.19

Explanation:

Giving the following information:

Each additional year of education causes future wages to rise by 7 percent.

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A person with 4 years of education=$?

We will use the present value formula to calculate the wage in year 0. Then with the final value formula calculate the year 4 wage.

PV= FV/[(1+r)^n]

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Erie company manufactures a mobile fitness device called the jogging mate. the company uses standards to control its costs. the
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Answer:

Standard Hours     Standard Rate per Hour      Standard Cost

24 minutes (0.4 hrs.)            $5.40                                  $2.16

During August, 8,390 hours of direct labor time were needed to make 19,600 units of the Jogging Mate. The direct labor cost totaled $43,628 for the month.

1. What is the standard labor-hours allowed (SH) to makes 19,600 Jogging Mates?

  • 19,600 jogging mates x 0.4 hours = 7,840 hours

2. What is the standard labor cost allowed (SH × SR) to make 19,600 Jogging Mates?

  • 7,840 hours x $5.40 = $42,336

3. What is the labor spending variance?

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4. What is the labor rate variance and the labor efficiency variance?

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