Answer:
Accounts Receivables Turnover Ratio =
= 10 times.
Explanation:
Accounts Receivables Turnover ratio = 
Here Net Credit Sales = $6.5 million
Accounts Receivables Opening Balance = $600,000
Accounts Receivables Closing Balance = $700,000
Average Accounts Receivable Balance = 
Accounts Receivables Turnover Ratio =
= 10 times.
This shows that accounts receivables are on an average 1/10th of credit sales.
Final Answer
Accounts Receivables Turnover Ratio =
= 10 times.
Answer:
Option (b) is correct.
Explanation:
Correct amount of inventory to be reported:
Amount of inventory as per physical verification = $320,000
Cost of goods under consignment to Herschel Corporation = $47,000
Value of inventory to be reported:
= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation
= $320,000 + $47,000
= $367,000
Answer:
$130 Favourable
Explanation:
Given the above information,
Standard hours = 2 × 4770 = 9,540
Actual hours = 8,940
Standard rate = $32.50
Then, Direct labor efficiency variance is computed as
= ( Standard hours allowed for production - Actual hours taken) × Standard rate per direct labor hour
= [(2 × 4,770) - 8,940] × $32.50
= [9,540 - 8,940] × $32.50
= 600 × $32.50
= $130 Favourable
Answer:
6.37%
Explanation:
Annual yield is the annual dividend yield of a bond.
Formula for annual yield = Annual dividend amount / Current price of the bond
Annual dividend amount = Annual interest rate * Face value
= 6% * $5,000
= <u><em>$300</em></u>
Current price = 94.125 means that the bond price is 94.125% of the Face value
Current price = 0.94125* 5000 = <u><em>$4,706.25</em></u>
Therefore, annual yield = 300/4,706.25 = 0.0637 or 6.37%
Answer:
The price of baseball bats (a complementary good) increased
If the price of a complementary good increases, this would result in a decrease in demand for baseballs.
Explanation: