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Alex73 [517]
3 years ago
8

gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00

0 64,000 Cost of goods sold 500,800 606,000 Ending inventory 72,000 80,000 Required: Assume a 365-day year. Determine for each year:
Business
1 answer:
Vaselesa [24]3 years ago
3 0

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

= ($64,000 + $80,000) ÷ 2

= $72,000

Inventory turnover = Cost of goods sold  ÷ Average inventory

= $606,000 ÷ 72,000

= 8.4 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 8.4

= 43.5 days

For Year 2

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

= ($80,000 + $72,000) ÷ 2

= $76,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $500,800 ÷ 76,000

= 6.6 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

= 55.3 days

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Answer:nonfinancial ethical performance.

Explanation:Ethics in business refers to moral behavior when dealing with the company's customers, employees and vendors. All companies focus on the financial aspects of buisness which is the profit and loss.

Nonfinancial ethical performance is therefore the performance not related to financial aspects of buisness but can affect a company's structure in the short end long run.

It is necessary to consider the nonfinancial ethical performance for investment purposes. Nonfinancial ethical performance arises from compliance of legislation, standard best practices, welfare of staff, relationship with clients which are important for internal decision making. When all these performance s are not met they may affect a buisness in the short and long run.

8 0
3 years ago
Sykora Corp. sells $450,000 of bonds to private investors. The bonds are due in 5 years, have a 6% coupon rate and interest is p
Nikitich [7]

Answer:

(B) 9%

Explanation:

In order to calculate this you just have to do a simple rule of three with the 100% being the 450,000 you withdraw from the paid money the selling price of the bonds:

490,222-450000= 40,222

Now we do the rule of three using 450,000 as 100%:

\frac{450,000}{100}=\frac{40,222}{x} \\x=\frac{40,222*100}{450,000}\\ x=8,93 %\\

So the actual rate would be 8,93 which is closest to 9% so that would be the answer.

5 0
3 years ago
As a revenue cycle auditor, explain how you will monitor compliance, denials, resubmitted claims, appeals for denied claims, and
goldfiish [28.3K]

Answer:

Ashley should review medical records for documentation compliance for CPT, Level II HCPCS, and diagnosis codes determining that regulations are being complied with as evidenced in medical record documentation; and evaluating appropriateness of billing and coding procedures.

Explanation:

7 0
2 years ago
Suppose you have a winning lottery ticket and you are given the option of accepting $3,000,000 three years from now or taking th
Minchanka [31]

Answer:

The amount that will be received today is $2518857.85

Explanation:

To calculate the amount that will be received today, we need to discount the amount that will be received three years from now for a period of 3 years using the given discount rate. As there is only a single cash flow, we will use the formula for present value of principal.

The present value of principal is,

Present value = Cash flow / (1+d)^t

Where,

  • Cash flow is the amount for which we have to found the present value
  • d is the discount rate
  • t is the time in terms of number of periods
  • Here the t is in years and the number of periods is 3 years

Present value = 3000000 / (1+0.06)^3

Present value = 2518857.849 rounded off to $2518857.85

7 0
3 years ago
Gena Manufacturing Company has a fixed cost of $259,000 for the production of tubes. Estimated sales are 153,400 units. A before
blondinia [14]

Answer:

$2.51

Explanation:

Gena Manufacturing Company calculation for contribution margin unit

Using this formula

Fixed cost + Tax profit/Estimated sales units

Let plug in the formula

Where:

Fixed cost =$259,000

Tax profit=$126,034

Estimated sales units=153,400

Hence:

(259,000 + 126,034) / 153,400

=$385,034/153,400

= $2.51

Therefore the contribution margin that is required to attain the profit target will be $2.51

8 0
3 years ago
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