True or False: Most of the value added included in GDP in the United States is added by businesses rather than consumers.

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

Anettt [7]

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

7 0

4 years ago

A company's beginning Work in Process inventory consisted of 37,000 units that were 90% complete with respect to direct labor. A

pychu [463]

Answer:

128,000 units

Explanation:

The calculation of the equivalent units of production using the weighted average method is given below:

= Total units of finished goods × completion percentage + ending work in process units × completion percentage

= 107,000 units × 100% + 42,000 units × 50%

= 107,000 units + 21,000 units

= 128,000 units

Hence, the equivalent units of production of direct labor is 128,000 units.

8 0

3 years ago

Shanna Engel started up a new nonprofit organization in 2013 named Concern for Animal Shelter and Habitats (CASH). The organizat

lesya [120]

Answer:

Net Assets = Total Liabilities - Total Assets

Transaction # 1

Cash comes under Permanantly Restricted Net Assets

Hence -

Net Assets = $50,000 - $50,000 = $0

Transaction # 2

As there was no transaction took place hence nothing to be reported.

Transaction # 3

Inventory comes under supply & its temporarily restricted net assets

Hence

Net Assets = $1750 - $1750 = $0

Transaction # 4

Advertising comes under Permanently Restricted Net Assets

Hence

Net Assets = $0 - (-$5000) = $0 + $5000 = $5000

Transaction # 5

Office Equipments comes under Temporarily Restricted Net Assets

Hence

Net Assets = Total Liabilites - Total Assets

= $ 5000 - [ - $5000 + $10000 ]

= $ 5000 - $5000 = $0

Hence ending balance is

Unrestricted Net Asstes = $0

Temporarily Restricted Net Asstes = $0

Permanently Restrcited Net Asstes = $5000

Explanation:

See attached file for table

8 0

4 years ago

Liquidity refers to Group of answer choices the ease with which an asset is converted to the medium of exchange. the measurement

Pani-rosa [81]

Answer:

The correct answer is letter "A": the ease with which an asset is converted to the medium of exchange.

Explanation:

The liquidity of an asset reflects the ease with which it can be transformed from investment to cash. Liquid assets are those that can be transformed easily to cash and see little or no difference in the value of the assets when transformed. Illiquid assets are more difficult to convert and can result in a major decrease in value once converted.

6 0

3 years ago

The Evendale Store is just one of many stores owned and operated by the company. The Apparel Department is one of many departmen

ExtremeBDS [4]

Answer:

Direct cost for Apparel Department

Apparel Department cost of sales—Evendale Store $116,100

Apparel Department sales commission—Evendale Store $7,950

Apparel Department manager’s salary—Evendale Store $9,950

Total 134,000

Direct cost for Evendale Store

Apparel Department cost of sales—Evendale Store $116,100

Store manager’s salary—Evendale Store $18,300

Apparel Department sales commission—Evendale Store $7,950

Apparel Department manager’s salary—Evendale Store $9,950

Janitorial costs—Evendale Store $13,700

Total 166,000

Apparel Direct cost which are also variable

(change as object cost increase)

Apparel Department cost of sales—Evendale Store $116,100

Apparel Department sales commission—Evendale Store $7,950

Total 124,050

Explanation:

a) we should consider which cost are directly linked into Apparel department only.

b) here we have to determinate cost directly linked into Evendale Store

c) While in this case, besides looking for cost linked to Apparel department, they also need to be variable thus, changing with the object cost.

5 0

3 years ago