Answer:
3.76 times
Explanation:
The computation of the asset turnover is shown below:
Asset turnover = Net sales ÷ Average total assets
= $1,356,504 ÷ $360,600
= 3.76 times
By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times
This is the answer but the same is not provided in the given options
Answer:
Product costs are.
Explanation:
Often the information needed by internal managers stands in sharp contrast to external reporting requirements promulgated by Generally Accepted Accounting Principles (GAAP).
GAAP requires full costing and management decision making requires incremental information.
According to GAAP, all manufacturing costs must be treated as product costs, and all selling and administrative costs must be treated as period costs.
Material cost + labor costs incurred directly in producing the product + other production or indirect production overhead costs.
If the products are in inventory, the costs are recorded as assets. If they have been sell, the are recorded as costs of goods sold.
Answer:
1)
Beginning inventory = 0
Plus: purchases = 6950
Less: withdraws= 6400
= ending inventory = 550
550-100 batteries used by staff= 450 batteries used in production
= 450 × $125 = $56250
Since 90% is completed, it means 10% is in WIP, i.e.,
WIP = 10% × 56250
= 5625
completed = 90% ×56250 = 50625
Since 30% of completed were unsold, it means remaining 70% were sold, which is COGS, i.e.,
COGS = 70% × 50625
= 35437
Note: selling expense cannot be deteremined from the given information.
2) WIP and Finished Goods accounts would appear on the balance sheet while COGS and selling expense would appear in income statement at April 30.
That's a 'cartel'. It's illegal in the US. It's also, mean, nasty, and not fair.
Answer:
0.5
Explanation:
Zscore = (x - mean) / standard deviation
Given the data:
X : 462 490 350 294 574
The second observation = 490
The mean and standard deviation of the data could be obtained using a calculator :
Mean = 434
standard deviation = 112
ZSCORE = (490 - 434) / 112
ZSCORE = 56 / 112
ZSCORE = 0.5