Answer:
The average collection period for accounts receivable in 9. 1 or 9 days
Explanation:
The average collection period for accounts receivable in days is computed as using the formula:
Average collection period for accounts receivable = 365 / Accounts Receivable Turnover Ratio
Computing Accounts Receivable Turnover Ratio as:
Accounts Receivable Turnover Ratio = Net Sales / Average Net Accounts Receivable
where
Net sales is $500,000
Average Net Accounts Receivable is as:
Average Net Accounts Receivable = Beginning Accounts Receivable + Ending Accounts Receivable / 2
= $10,000 + $15,000 / 2
= $25,000 / 2
= $12,500
Putting the values above:
= 500,000/12,500
Accounts Receivable Turnover Ratio = 40
Now, putting the values above in the formula of Average collection period of Accounts Receivable:
= 365 / 40
Average collection period of Accounts Receivable = 9.1 days or 9 days
Answer:
Direct labor efficiency variance= $9,360 unfavorable
It is unfavorable because it took longer to produce 975 units than the standard time estimated.
Explanation:
Giving the following information:
Standard direct labor hour per unit= 7.2 hours
Standard rate= $13
Actual units= 975
Actual hours= 7,800
Actual rate= $12.44
<u>The direct labor time variance is also known as the direct labor efficiency variance. It calculates the effect on costs of the time required to produce the actual amount of units.</u>
We need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Standard quantity= 975 units*7.20= 7,020 hours
Direct labor efficiency variance= (7,020 - 7,800)*12= $9,360 unfavorable
It is unfavorable because it took longer to produce 975 units than the standard time estimated.
Answer:
$5,000
Explanation:
A perpetuity pays $250 every year
The appropriate interest rate is 5%
= 5/100
= 0.05
Therefore the present value of the perpetuity can be calculated as follows
= 250/0.05
= $5,000
Hence the present value of the perpetuity is $5,000
Complete Question:
Smith Commercial Development has effective control processes, allowing its managers to discover ______ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Group of answer choices
A. irregularities and errors
B. team problems
C. a potential merger
D. tax breaks
E. competence
Answer:
A. Irregularities and errors.
Explanation:
In this scenario, Smith Commercial Development has effective control processes, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Generally, managers are saddled with the responsibility of controlling various aspects of an organization (business) and as such are required to improve the effectiveness of their control processes. An effective control process ensure that every information at various levels of organization such as bookkeeping (financial statements) are accurate through the use of corrective actions.
Answer:
correct answer is B. GATT
Explanation:
solution
GATT ( General Agreement on Tariffs and Trade ) it is legal agreement between the many country
there purpose was only to promote for the international trade by reduce barrier like tariff and other trade barrier
and
General Agreement on Tariffs and Trade and its successor World Trade Organization have successfully reduce the tariffs
so correct answer is B. GATT
