Answer:
Gross profit ratio = 29.5%
Inventory turnover ratio = 6.16 times
Explanation:
(a) Target uses the retail inventory method to account for the majority of it's inventory and the related cost of sales. in this method, inventory is stated at cost using the last in first out (LIFO) method as determined by applying a cost to retail ratio to each merchandise groupings ending retail value.
(b) The cost of inventory includes
1. The amount T pays to it's supplier to acquire inventory.
2. freight cost incurred in connection with the delivery of products to it's distribution centres and store.
3. Import cost reduced by vendor income and cash discounts.
(c) Gross profit ratio = 21788/73785
= 29.5%
Inventory turnover ratio = 51997/(8601+8282)/2
= 6.16 times
Answer:
$0.19 per direct labor hour
Explanation:
It is important to keep in mind the following :
Overhead application rate = Budgeted Overheads ÷ Budgeted Activity
also,
Applied Overheads = Overhead application rate x Actual Activity
Using the formula :
Applied Overheads = Overhead application rate x Actual Activity
hence,
Overhead application rate = Applied Overheads ÷ Actual Activity
therefore,
Overhead application rate = $6,500 ÷ $35,000
= $0.185 or $0.19 per direct labor hour
Answer:
The correct answer is "Closing entries"
Explanation:
Closing entries, commonly named as closing journal entries, are records produced at the close of an accounting period to transform in 0 "zero" all temporary accounts. Usually is the balance is transferred to permanent accounts. It is used to close the temporary accounts and reset the balance every end of period.
Attention should researchers don't forget when designing a web study: moral considerations in studies are a fixed of ideas that manual your research designs and practices. these standards consist of voluntary participation, knowledgeable consent, anonymity, confidentiality, the capacity for harm, and consequences of conversation.
Researchers collect, organize, examine, and interpret information and evaluations to discover problems, and clear up issues, and expected trends. maximum researchers degree in public opinion. Social technology researchers gauge the public's opinion concerning social problems, offerings, political campaigns, parties, and personalities.
Research is described as cautious consideration of taking a look at regarding a selected difficulty or problem with the use of medical strategies. consistent with the American sociologist Earl Robert Babbie, “studies is a systematic inquiry to describe, explain, are expecting, and manage the determined phenomenon. research is careful and prepared to take a look at or gathering of facts about a specific subject matter. An example of studies is a challenge wherein scientists try to discover a cure for AIDS. An example of research is the facts an excessive college student tracks down facts for a college file.
Learn more about Researchers here:
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Answer:
No
Explanation: The key word is it was earned as result of the connection to the firm so it is split between the partners
