Answer:
4.33.
Explanation:
Inventory turnover is a ratio that tells us the number of times a company sells and replaces its inventory. It is calculated by taking Cost of Goods Sold for a period and dividing it by Average Inventory [(Opening + Ending) / 2].
⇒ 300,000 / [(64,400 + 74,200) / 2] = 300,000 / 69,300 = 4.33.
It means that Marian Company sold its inventory 4.33 times during the Year.
A cash payment received from a customer for a product purchased on account would be recorded as DEBIT TO CASH AND CREDIT TO ACCOUNT RECEIVABLE. Cash is debited because cash has been received by the company and it has to be debited to the asset account of cash. The account receivable is credited to record the fact that money has been received.
Answer:
Explanation:
1- It starts an unhealthy cycle. Often, when you stress spend, you’re doing it to relieve stress and even bring some happiness. But it’s rather quick fix, In fact, it could cause more stress once you see you’re racking up debt. Rather than spend more, take time to actually address the problem.
2- It takes away from your financial goals. Whether you’re saving for a house, car, vacation, or retirement, you’re working toward some sort of financial goal. But, unfortunately, those dreams can often get lost amongst the shortcuts and spending sprees we go on when we’re stressed.
3- It all adds up. That car you just bought That’s $15. Or what about that burger you hurriedly grabbed for lunch the other day? That’s another $10. Maybe you’re drinking more beer than usual, and you’ve been a frequent bat customer. Even if you go on a stress-spending spree for only a few weeks, it’s definitely enough time to still wreak havoc on your finances. Just remember: small expenses add up.
Answer:
$4760
Explanation:
700 units at 6.80 value/unit
700 x 6.80
= 4760
Answer:
Direct labor rate variance= $2,430 favorable.
Explanation:
Giving the following information:
Standard labor rate $ 15.10 per hour
Actual hours worked 8,100 hours
Actual total labor cost $ 119,880
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 119,880/8,100= $14.8
Direct labor rate variance= (15.1 - 14.8)*8,100= $2,430 favorable.
<u>It is favorable because the actual rate for direct labor was lower than the estimated rate.</u>
