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Over [174]
2 years ago
9

Swiss Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of

$780,000 at the end of the year. Net credit sales during the year amounted to $7,200,000. The accounts receivable turnover ratio was
A. 9.2 times.
B. 9.0 times.
C. 8.4 times.
D. 8.8 times.
Business
1 answer:
salantis [7]2 years ago
4 0

Answer:

B. 9.0 times.

Explanation:

Accounts Receivable Turnover (ART) = Net credit sales/ Average accounts receivable

Net credit sales = <em>$7,200,000</em>

Average accounts receivable  = (beginning AR - ending AR) /2

Average Accounts receivable = ($820,000 + $780,000)/2

Average AR = <em>$800,000</em>

Therefore Accounts receivable turnover = $7,200,000/800,000 = 9.0 times

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Williamsburg Market is an all-equity firm that has net income of $96,200, depreciation expense of $6,300, and an increase in net
sladkih [1.3K]

Answer:

The answer is $99700

Explanation:

Net cash from operating activity= Net income + Depreciation - increase in net working capital.

Net cash from operating activity= $96,200 + $6,300 - $2,800= $99700

6 0
2 years ago
An operations manager observes a new production process. Based on production of the first 32 ​units, the manager estimates that
Leviafan [203]

Answer:

<em>The answer is 17.01 minutes</em>

Explanation:

<em>Given that:</em>

<em>The learning rate (r) = 85% = 0.85</em>

<em> T₃₂= 23.52 minutes</em>

<em>By applying the learning curve formula</em>

<em>Thus,</em>

<em>Tₙ = T₁ nᵇ</em>

<em>Where b represent ln(r)/ln2</em>

<em>b = ln( 0.85)/ln2 = -0.2344</em>

<em>23.55 = T₁ * (32)^-0.2344</em>

<em>T₁ = 23.55 * (32)^0.2344</em>

<em>Now,</em>

<em>T₁₂₈ = T₁ (128)^ - 0.2344</em>

<em>= 23.55 * (32)^0.2344 * (128)^ - 0.2344</em>

<em>=17.01 minutes</em>

3 0
2 years ago
Frederick W. Taylor is speaking to a friend about scientific management. Which of the following statements might Frederick say?
zvonat [6]

Answer:

(A) The best way to increase your workers' productivity is to study their movements carefully. Figure out the fastest way to get the job done correctly, and then train all of the employees to do it the same way.

(B) Are you promoting people just because you like them? Try having managers make promotion decisions solely on the basis of a person's technical ability to do the work.

Explanation:

<em>Scientific Management theory</em> laid out by <em>Frederick W. Taylor</em> focuses on <em>effective (best) and efficient (less costly)</em> way of getting the work done.

(1) Statement A focuses on <em>motion and time studies</em> respectively.

In <em>motion studies</em>, we are concerned with elimination of unnecessary movements and activities required to perform a job. For eg, in order to manufacture 100 packets of biscuits, 5 processes are required but the processes currently used are 10, so 5 processes must be eliminated in order to save time and costs.

<em>Time studies</em> implies setting up time for performing a particular work activity. The time must be same for all the workers and could be based on the past factory time data of the activity. For eg, an average time per worker can be calculated for the activity taking into consideration the total time spent by total no. of workers on a particular work activity.

(2) Statement B focuses on promoting the persons based on their technical ability to do the work.

<em>Differential piece wage system</em> of F.W. Taylor applies perfectly to this statement. It prescribes paying workers as per the work done by them. For eg, a worker producing 15 units of a good per day would be paid $ 12 a unit, let's suppose and the worker producing less than that would be paid $ 10 a unit. So, the workers producing 15 and more units of a good, have higher technical ability with respect to the production of that good and hence, higher pay. The workers producing less than 15 units have lower technical ability and hence lower pay.

(3) Statement 3 relates to the administrative principle of "Unity of Command" laid out by Henry Fayol and hence, is not the solution statement.  

4 0
2 years ago
Use the information presented in Southwestern Mutual Bank's balance sheet to answer the following questions.
nikitadnepr [17]

Answer:

a. Its intended goal is to protect the interests of those who hold equity in the bank

Explanation:

Base on the scenario been described in the question, Its intended goal is to protect the interests of those who hold equity in the bank

Capital requirements are designed to ensure that banks will have sufficient capital to repay the depositors and debtors. A bank's "capital" is the difference between the total value of the bank's assets and its total deposits plus debt. That is, the bank's capital is the money that would be left over if the bank were able to liquidate all of its assets to pay off all of its depositors and debtors.

8 0
2 years ago
Beck Manufacturing reports the information below for 2017. Raw Materials Inventory Begin. Inv. 10,000 Purchases 45,000 Avail. fo
Vanyuwa [196]

Answer:

transferred out (COGM) 131,000

Cost of goods sold:       129,000

Explanation:

DM used     46,500

Direct labor  27,500

Overhead  <u>  55,000  </u>

Total:           129,000 cost added for the period

Then, we calcualte the amount transferred-out:

Beginning WIP   14,000

Cost added      129,000

Ending WIP       (12,000)

Trasferred out: 131,000 (cost of goods manufactured)

And finally, the cost of goods sold for the year:

Beginning FG    16,000

Trasferred out   131,000

Ending FG         (18,000)

COGS:              129,000

5 0
2 years ago
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