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Step2247 [10]
3 years ago
9

North Side Wholesalers has sales of $948,000. The cost of goods sold is equal to 68 percent of sales. The firm has an average in

ventory of $23,000. How many days on average does it take the firm to sell its inventory? Group of answer choices
Business
1 answer:
Masteriza [31]3 years ago
5 0

Answer:

13 days

Explanation:

We are to calculate the days of inventory on hand.

Days of inventory on hand = number of days in a period/ inventory turnover

Inventory turnover = Cost of goods sold / average inventory

Cost of goods sold = 0.68 x $948,000 = $644,640

Inventory turnover = $644,640 / $23,000 = 28.027826

Days of inventory on hand = 365 / 28.027826 = 13.02 days

I hope my answer helps you

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Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. Bloomfield carried the Clor investm
harina [27]

Answer:

Suppose that in year 2021, Bloomfield had equal share of percentage of ownership in Clor as they had in previous year i.e 2020, it means that in 2021, the share of percentage that will be held by Bloomfield in Clor will be 26.59%

Explanation:

From the above, we will assume that Bloomfield stake in Clor using equity method and also investment in 2020 was $150,650 and $165,300 in 2021.

Inorder to calculate the percentage , we can make it Y hence we will add amount in 2020 with Y% of (Net income - Dividend declared) inorder to arrive at the total amount in 2021.

Solution.

$150,650 + Y% (75,600 - $20,500) = $165,300

$150,650 + $55,100Y = $165,300

$55,100Y = $165,300 - $150,650

$55,100Y = $14,650

Y% = $14,650/$55,100

Y% = 0.26588

Y = 0.26588 × 100

Y = 26.59

3 0
3 years ago
If a borrower's monthly interest payment on an interest-only loan at an annual interest rate of 7.3% is $877, how much was the l
mihalych1998 [28]

Answer:

$144,200

Explanation:

7 0
2 years ago
Lata is writing a message to her boss. She has discovered a source for office supplies that carries name brands but whose prices
Triss [41]

Answer:

The correct answer is Direct order.

Explanation:

Many times a day we receive and give orders. When we entrust a specific function to our employee or subordinate, how do we do it? By giving a direct order to execute it or we use what we call delegation. Through the delegation, we entrust this employee not only to do what has been communicated to him, but also to take responsibility from start to finish, reporting once the order has been executed to whoever has given it.

7 0
2 years ago
A firm currently employs four workers in a sandwich shop, and produces sandwiches at a total cost per sandwich (ATC) of $3. The
tatuchka [14]

Answer:

all are correct A, B and C

Explanation:

The marginal cost hiring another worker and producing a sandwich = $5.50 per sandwich, which is higher than the marginal revenue.

If the selling price per sandwich is $5 and the marginal cost per sandwich is $5.50, the firm will lose $0.50 for every sandwich that it sells.

Therefore the firm would be losing money is they hire an extra worker.

In order to maximize the profit, the marginal cost = selling price.

5 0
2 years ago
Suppose your company needs $16 million to build a new assembly line. Your target debt−equity ratio is .7. The flotation cost for
kumpel [21]

Answer:

7.76%

Explanation:

The computation of the weighted average flotation cost is shown below:

= Weightage of equity × flotation cost for new equity +  Weightage of debt × flotation cost for debt

Since the debt-equity ratio is 0.7 which means the debt value is 7 and the equity value is 10 so the total firm would be 1.70

So, Weighted of debt = (0.7 ÷ 1.70) =0.411

And, the weighted of common stock = (Common stock ÷ total firm)

                                                              = (1) ÷ (1.70)

                                                              = 0.588    

Now put these values to the above formula  

So, the value would equal to

= (0.588 × 9%) + (0.411 × 6%)

= 0.05292% + 0.02466%

= 7.76%

4 0
3 years ago
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