Answer and Explanation:
The computation is shown below:
a. The inventory turnover is
= Cost of Goods Sold ÷ Average Inventory
= $351,050 ÷ ($170,000 + $125,000) ÷ 2
= $351,050 ÷ $147,500
= 2.38 times
b. Now days in inventory is
= 365 ÷ inventory turnover ratio
= 365 ÷ 2.38 times
= 153.36 days
Factors of production are scarce in every society.
<h3>What are the factors of production?</h3>
Factors of production are the resources that are used in the production of goods and services. Factors of production are scarce and this is why it is important to use them in the activities that would maximise their use.
There are four factors of production in economics. They include - land, labor, capital and entrepreneurship.
Land includes all the natural resources that are used to produce goods and services e.g. gold mine. Labor is the human effort that is exerted in the production of goods and services. Capital includes machinery and man made resources used in production. An entrepreneur is a person who combines the other factors of production together
To learn more about factors of production, please check: brainly.com/question/12342608
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Answer:
$192 million; $153.60 million; $38.40 million
Explanation:
Given that,
Direct material purchased = $80 million
Direct labor costs = $51 million
Manufacturing overhead = $77 million
Percent of the work-in-process completed = 80%
(1) Transfers-In:
= Direct materials + Direct labor costs + Manufacturing overhead
= (80% × $80 million) + $51 million + $77 million
= $64 million + $51 million + $77 million
= $192 million
(2) Transfer-out:
= Transfers-In × percent of the work-in-process completed
= $ 192 million × 80 %
= $ 153.60 million
(3) Ending Balance:
= Transfers-In - Transfer-out
= $192 million - $ 153.60 million
= $38.40
Answer:
Capitation
Explanation:
Capitation should be selected. Capitation payments can be explained to be defined, periodic as well as per-patient payments that are usually on a monthly basis for every person who has entered into a capitated insurance plan. Such that, a provider can get paid per-month or per-patient, irrespective of the number of times that the patient came in for treatment or required service.
Answer:
A. Forecast for July = 42.
B. Forecast for August = 42.45
C. Because of seasonality in the banking industry.
Explanation:
A. Forecast for July = Forecast for June + Smoothing constant x (Forecasting error)
= 42 + 0.15 (42-42) = 42
B. Forecast for August = Forecast for July + 0.15 (Forecasting error)
= 42 + 0.15 (45-42) = 42.45
C. Because there is a great deal of seasonality in the processing requirements of banking industry, this forecasting method (exponential smoothing) might not be appropriate for this situation.
