Please help me solve this question

Recent financial statements of General Mills, Inc. report net sales of $12,442,000,000. Accounts receivable are $912,000,000 at

cluponka [151]

Answer:

13.34

Explanation:

In this question, we are told to compute the account receivable turnover at the end of the year.

To calculate this , we proceed using a mathematical approach;

mathematically;

Accounts receivable turnover = Net Sale / (Average accounts receivable)

From the question, we can identify that the net sale is $12,442,000,000 while the average accounts receivable which is the average of the account receivable at the start of the year and that at the beginning of the year

= $ 12442000000 / (912000000 + 953000000)/2

= $ 12442000000 / 932500000

= 13.34

3 0

3 years ago

Suppose Mexico’s opportunity cost for producing 1 unit of food is 3 units of clothing and the United States’ opportunity cost fo

Paul [167]

Answer:

Mexico export 1 unit of cloth and import 2 unit of food

Explanation:

given data

Mexico’s cost producing 1 unit of food = 3 units of clothing

US cost producing 1 unit of food = 0.5 units of clothing

Trade ratio = 1:1

to find out

How beneficial would it be for Mexico

solution

as given in question we know that Mexico opportunity cost of producing food is lower in the US

so here United States will produce food and Mexico will produce cloth

and trade ratio is 1:1 so that Mexico has export 1 unit of cloth and can import 1 unit of food

and

when the trade ratio is 1 unit of clothing for every 2 unit of food

Mexico export 1 unit of cloth and import 2 unit of food

so as that Mexico will gains more by later trade ratio

8 0

3 years ago

Which of the following is the best definition of marketing?

strojnjashka [21]

A and D are close BUT I would roll with D

5 0

3 years ago

Read 2 more answers

In the ______ interview, applicants are asked how they handled a work-related situation in the past.

noname [10]

Answer: it’s behavioral

Explanation:

5 0

3 years ago

Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding D

love history [14]

Answer:

The cost per equivalent unit of materials is $2.28

Explanation:

The Concept of Equivalent units measures the number of units complete to the extent of the input elements added during production.

The FIFO method in Process costing Accounts for Costs only incurred during the Manufacturing Period. Also, The Opening Work In Process is Assumed to be completed first.

<em>The First Step is to Calculate the Total Equivalent Units of Production for Raw Materials :</em>

To finish Opening Work In Process (34,000 × 0%) = 0

Started and Completed ((153,000 - 34,000) × 100% ) = 119,000

Closing Work In Process (34,500 × 100%) = 34,500

Total Equivalent Units of Production = 153,500

<em>The Next and Final Step is to calculate the cost per equivalent unit of materials.</em>

Cost per equivalent unit = Total Cost During the Current Period / Total Equivalent Units of Production

= $349,625 / 153,500

= $2.2776872

= $2.28 (2 decimal places)

Conclusion :

The cost per equivalent unit of materials is $2.28

7 0

3 years ago