Answer:
See below
Explanation:
1. Returns on assets
= Annual net income ÷ Average total assets
Average total assets = beginning asset + ending assets ÷ 2
= ($80 million + $88 million) ÷ 2
= $84 miiliom
Return on assets = $13.4 million ÷ $84 million
Return on assets = $159.52
2. Profit margin
= Net income ÷ Net sales
= $13.4 million ÷ $114 million
= 11.75%
3. Assets turnover ratio
= Net sales ÷ Average total assets.
Recall Average total assets = $84 million
Average turnover ratio
= $114 million ÷ $84 million
= 1.36 times
Answer:
Inventory
Explanation:
A periodic inventory system is an efficient method to record the sale and purchase of inventory. It is a method which instantly using accounting software to record an entry. In the periodic inventory system, the cost of purchases is debited to an inventory account. The reason is that the purchase of goods increases the inventory, which is why the cost of purchases is debited to an inventory account.
Yes it did I’m just tryna get the app bro
Answer:
Direct material quantity variance= $840 unfavorable
Explanation:
Giving the following information:
Dorsey Corporation Company budgeted 600 pounds of direct materials costing $28.00 per pound to make 7,000 units of product.
The company used 630 pounds of direct materials to make the 7,000 units.
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (600 - 630)*28
Direct material quantity variance= $840 unfavorable
