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
disa [49]
3 years ago
10

Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial s

tatements (in millions): 2012 2013 2014 2015 Net Sales Revenue $ 3,300 $ 2,760 $ 2,090 $ 1,670 Cost of Goods Sold 2,380 2,000 1,560 1,270 Average Inventory 330 280 220 210 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 5.5 times in 2015 (66.4 days to sell). Both companies use the same inventory costing method (FIFO).
Business
1 answer:
Anettt [7]3 years ago
7 0

Answer:

The calculations are shown below:

Explanation:

The computation is shown below:

As we know that

Inventory turnover ratio is

= Cost of goods sold ÷ Average inventory

So

For year 2015, it is

= $1,270 ÷ $210

= 6.05 times

For year 2014, it is

= $1,560 ÷ $220

= 7.09 times

For year 2013, it is

= $2,000 ÷ $380

= 7.14 times

1-b Average days to sell inventory is computed by considering the

= Total number of days in a year ÷ inventory turnover ratio

So

For year 2015, it is

= 365 ÷ 6.05

= 60.33 days

For year 2014, it is

= 365 ÷ 7.09

= 51.48 days

For year 2013, it is

= 365 ÷ 7.14

= 51.12 days

2. As we can see that the aegis industries inc is performing better than the Snow Pack Corporation as aegis industries has 7.14 times in 2015 as compare to the 5.5 times in 2015  

You might be interested in
The second step in the marketing research project involves developing the research plan. This includes specifying the ________ f
Rus_ich [418]

Answer:

constraints; data

Explanation:

In the second step of marketing research, the research plan is developed. This includes making clear the limitations that will be met during the research activities and identifying the information/data needed for marketing decision making. The research plan is aimed at answering or atleast leading to the solution of the research problem identified in the first step. Instrument used to collect information, the type of research to be carried out are all determined at this stage.

7 0
3 years ago
Wind Fall, a manufacturer of leaf blowers, began operations this year. During this year, the company produced 10,000 leaf blower
Citrus2011 [14]

Answer: Option (a) $146,500 is correct.

Explanation:

Company produced = 10,000 leaf blowers

Company produced sold =  8,500 leaf blowers

Income statement of year-end:

Sales = $ 382,500

Cost of goods sold = 170,000

Gross margin = $ 212,500

Selling and administrative expenses = 60000

Net income = $ 152,500

Production costs per leaf blower total = $20

Variable cost of goods sold = 8500 × $16 = $136000

Variable selling and administrative expenses = 15% of 60000 = $9000

Fixed production Cost = 10000 × $4 = 40000

Fixed Selling & Administrative expenses = (100% - 15%) of 60000 = $51000

∴ Net income under variable costing = sales - Variable cost of goods sold - Variable selling and administrative expenses - Fixed production Cost - Fixed Selling & Administrative expenses

= 382,500 - 136000 - 9000 - 40000 - 51000

= 146500

4 0
3 years ago
What country first began to dismantle its welfare state? What was put in its place?
ANTONII [103]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

What country first began to dismantle its welfare state? <span>Chili. Democracy was restored.

</span>What was put in its place? <span>A pension plan replaced welfare.</span>
5 0
3 years ago
The "Four C's of Credit" are
White raven [17]
Credit, capacity, collateral, and capital
7 0
2 years ago
Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 90,000 August 110,000 Se
Cerrena [4.2K]

Answer:

$112,500

Explanation:

                                                 July       August         September  October

Credit Sales(90000*75%)       67,500  

                   (110,000*75%)                       82,500

                   (120,000*75%)                                          90,000

Cash Sales (120,000*25%                                            30,000

<em>Total Cash expected to be collected in September will be;</em>

Credit Sales of August      $82,500

Cash  Sales of September $30,000

Total cash expected to be collected in September =$112,500

4 0
3 years ago
Read 2 more answers
Other questions:
  • Financing options for post-secondary education:
    8·1 answer
  • Brad, an employee for a sports marketing firm, feels he has been treated unfairly by the organization. He helped three other emp
    5·1 answer
  • 1)The college of Staten island company must decide between two mutually exclusive industrial printers. The cost of each printer
    8·1 answer
  • Steve issues a 30-day negotiable promissory note, payable to the order of Henry, to cover the cost of Henry buying a car for Ste
    6·1 answer
  • Mr. Husker’s Tuxedos Corp. ended the year 2018 with an average collection period of 37 days. The firm’s credit sales for 2018 we
    14·1 answer
  • A stock is expected to earn 15 percent in a boom economy and 7 percent in a normal economy. There is a 35 percent chance the eco
    9·1 answer
  • Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory
    15·1 answer
  • Yao decides to place a $2,000 deposit at the end of each year into a bond fund that earns 6% annually. Find the amount of the in
    15·1 answer
  • The interior angles of a hexegon are in the ratio 3:3:4:5:6:7. Find; (a) The size of the smallest angle. (b) The size of the lar
    12·1 answer
  • Previous
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!