Answer:
50 days
Explanation:
THE average collection period for Year 2 is closest to 50 days
Year 2:
cost of goods sold = $730
opening inventory = $110
closing inventory = $90 therefore total inventory = 110 + 90 = $200
Average inventory = $100
to calculate inventory turnover ratio = cost of goods sold / average inventory
= 730 / 100 = 7.30
The average collection period = 365 days / inventory turnover ratio
= 365/7.30 = 50 days
Answer:
$770 favorable
Explanation:
The spending variance for a flexible budget will be calculate as follow:
actual activity x standard rate - actual cost
1,300 x 3.90 = 5,070 standard cost
actual cost 4,300
Variance: 770 favorable
This variance is favorable, as the actual cost were lower than expected, the company saved cash in the supplies espending.
A) The relationship between information systems and organizations is among the fastest-changing aspect of business today.
Answer: The correct answer is "c. is a seller that has the ability to control to some degree the price of the product it sells.".
Explanation: A price searcher is a seller that has the ability to control to some degree the price of the product it sells.
