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2 years ago

AutoZone and O'Reilly are two competitors in the retail automotive parts industry.

Business

1 answer:

sineoko [7]2 years ago

7 0

Answer:

Gross Profit Margin: 53 % and 54%

Inventory days outstanding: 249 days and 252 days.

Explanation:

Gross Profit Margin = Gross Profit / Sales * 100

Gross profit = Sales - Cost of Goods Sold

Gross Profit :

Year 1 : 10,498,448 - 4,860,309 = 5,638,139

Year 2 : 8,277,782 - 3,804,031 = 4,473,751

GP margin :

Year 1 = 53%

Year 2 = 54%

Days of inventory : Average inventory / Cost of Sales * 365 days

Year 1 : 3,320,864 / 4,860,309 * 365 = 249 days

Year 2 : 2,632,898 / 3,804,031 *365 = 252 days

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On September 23, Reese Company received a $350 check from Mike Moluf for services to be performed in the future. The bookkeeper

Harman [31]

Answer:

debit Accounts Receivable $350 and credit Unearned Service Revenue $350

Explanation:

The bookkeeper incorrectly made the following journal entry:

Dr Cash 350

Cr Accounts receivable 350

The correct entry should have been:

Dr Cash 350

Cr Unearned revenue 350

So the adjusting entry should be:

Dr Accounts receivable 350

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3 0

3 years ago

Select the answer that best describes why the return on investment (ROI) for higher education is high even thought the cost of c

LekaFEV [45]

The correct answer for this question is this one: "B. You have the potential to earn less money in the future when you continue your education past college."

The return on investment (ROI) for higher education is high even thought the cost of college is increasing. So, <em>you have the potential to earn less money in the future when you continue your education past college.</em>
Hope this helps answer your question and have a nice day ahead.

5 0

3 years ago

In a sales mix situation at any level of units sold net income will be higher if

ArbitrLikvidat [17]

In a sales mix condition at any level of units vended the net income will be higher if more higher contribution margin units are sold than lower contribution margin units. The sales mix is the comparative proportion in which a company vends its multiple goods. In addition, the contribution margin ratio is contribution margin separated by sales.

7 0

3 years ago

Serena just finished making a buyer presentation to Mark and Debbie Calhoun. Now that they understand the difference between bei

Yanka [14]

Answer:

Notifying Serena of any material changes

Explanation:

With Serena now serving as their (Mark and debbie Calhoun) agents, it is paramount that Serena (the agent) be notified about any material changes made by the buyers. The buying agents (in this case Serena) is an individual or organization that is responsible for purchasing goods or property on behalf of another person. They are usually license professionals who search and undergo the purchasing procedure of products that their clients is interested in owning.

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3 years ago

Determine the order in which the following budgets are generally prepared.

xenn [34]

Answer:

The order in which the following budgets are generally prepared are as arranged below:

1. Sales budget

2. Production budget

3. Material purchases budget

4. Budgeted income statement

In an attempt to expatiate the decision above. We must observe that income statement starts with revenue. Similarly here, the budget will starts with sales. The revenue section is followed by production budget which from which various budgets like material, direct labor and overhead budget are prepared from. After the Production budget, follow the Material purchase budget, then Budgeted Income Statement

5 0

2 years ago