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3 years ago

Using the information below, compute the raw materials inventory turnover:

Business

1 answer:

fredd [130]3 years ago

5 0

Answer:

The raw material inventory turnover is 9.2 times or 40 days

Explanation:

This problem requires us to compute raw material inventory turnover. The inventory turnover ratio is calculated by dividing the inventory used for a period by the average inventory for that period. Average inventory is used instead of ending inventory because many companies' merchandise fluctuates greatly throughout the year.

So RM inventory turnover = RM used/Average inventory

= 104,600/11,350*

= 9.2 times or 40 days**

* Average inventory = (9,900+ 12,800)/2

** (365/9.2) = 40 days

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An operation's Beginning Inventory for an accounting period equaled $15,000. Ending Inventory for the period equaled $14,000, Pu

kherson [118]

Answer:

$1,500

Explanation:

Data provided:

operation's Beginning Inventory = $15,000

Purchases = $21,500

Ending Inventory for the period = $14,000

Total Cost of Sales = $21,000

Now,

The amount of this operation's Employee Meals in the period

= Beginning Inventory + Purchases - Ending Inventory - Total Cost of Sales

= $15,000 + $21,500 - $14,000 - $21,000

= $1,500

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3 years ago

The ending Retained Earnings balance of ABC decreased by $1.5 million from the beginning of the year. The company declared a div

saveliy_v [14]

Based on the information given the net income for the year will be is : $2.9 million.

<h3>Net income</h3>

Using this formula

Net income=Dividend declared-Decrease in Ending Retained earning

Where:

Dividend declared=$4.4 million

Decrease in Ending Retained earning=$1.5 million

Let plug in the formula

Net income=$4.4 million-$1.5 million

Net income=$2.9 million

Inconclusion the net income for the year will be is : $2.9 million.

Learn more about net income here:brainly.com/question/13186458

7 0

3 years ago

The purpose of posting is to A. list the transactions in chronological order in the journal. B. provide an explanation of the tr

avanturin [10]

The correct answer is
<span>C. update the account balances in the ledger.

Here, the word posting is used in its economic meaning which means what you wrote under C. It's not posting like when you post on facebook or similar. Updating the balance in the ledger is of extreme importance for avoiding problems with the law of avoiding things like bankruptcy.</span>
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3 years ago

Read 2 more answers

1. Which method of job-searching has been shown to have the highest success rate. a. Cold-calling potential employers b. Using a

daser333 [38]

Answer:

The correct answer is letter "D": Networking.

Explanation:

According to an article published by Forbes in September 2016, networking is the method of job-searching with the highest rate of success. Individuals asking to their close environment -whether families or clubs- about job positions that may fit their skills 33% of the time end up being hired. The second place is for <em>agency firms</em> with 28% of success rate followed by <em>answering newspaper ads</em> with a 24% success rate.

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3 years ago

You have just won the lottery and will receive $1,000,000 in one year. You will receive payments for 35 years and the payments w

aleksandr82 [10.1K]

Answer:

Present Value= $9,003,586.40

Explanation:

Giving the following information:

You have just won the lottery and will receive $1,000,000 in one year. You will receive payments for 35 years and the payments will increase by 3.4 percent per year. The appropriate discount rate is 7.4 percent.

I will assume that 1 million is the first payment of 35.

First, we will calculate the final value. To do this, we need to sum the growing rate to the interest rate.

FV= {A*[(1+i)^n-1]}/i

A= annual deposit= 1,000,000

i= 0.074 + 0.034= 0.108

n=35

FV= {1,000,000*[(1.108^35)-1]}/0.108= $326,067,227.1

Now, we can calculate the present value:

PV= FV/ (1+i)^n

PV= 326,067,227.1/ 1.108^35= $9,003,586.40

7 0

3 years ago