Homework Answers
Answer: Option d) Manufacturing Firms.
Reason for Incorrect.
Option a) Retailers purchase & sale finished goods.
Option b) Service company do not sell products.They provide services.
Option c) Merchanside companies sell variety of products to the retail consumer.They do not produce.
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Which of the following types of organizations purchases raw materials from suppliers and uses them to...
Purchasing uses information from the _____ to place purchase orders for raw materials with qualified suppliers.
Purchasing uses information from the _____ to place purchase orders for raw materials with qualified suppliers.
Which of the following is an activity in the operations of a manufacturer, but not in...
Which of the following is an activity in the operations of a manufacturer, but not in the operations of a merchandising or service company? Multiple Choice Selling goods to consumers Receiving cash Selling goods to other firms Buying raw materials
Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw...
Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw materials purchases in November is $286,032. The company pays for 40% of its raw materials purchases in the month of purchase and 60% in the following month. The budgeted accounts payable balance at the end of November is closest to: Multiple Choice 0 $114.413 0 $140,333 0 $171,619 0 C ) $285,032
Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw...
Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $22,200 67,000 23,600 29,400 35,000 49,800 37,000 All raw materials used were traceable to specific units of product. Healey Company's Cost of Goods Manufactured for the year is: Multiple Choice $158,000. $152,400. Loo o C $149,600. $153,000 $146,800.
Which of the following statements is correct concerning the Days' sales in raw materials inventory? Multiple...
Which of the following statements is correct concerning the Days' sales in raw materials inventory? Multiple Choice A measure of how long it takes raw materials to be used in production. The ratio is not useful for a manufacturer. Reveals how many times a company turns over its raw materials inventory in a period. Most companies generally prefer a higher number of days' sales in raw materials inventory. Is calculated by taking the Raw materials used/Average raw materials inventory.
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio?...
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio? Multiple Choice The ratio is not useful for a manufacturer Is calculated by taking the Raw materials used/Average raw materials inventory Reveals how many times a company turns over its raw materials inventory in a period, It measures how long it takes raw materials to be used in production Most companies generally prefer a higher number of days' soles in raw materials inventory
Describe in more detail exactly how Atrium Health System gets its raw materials or other inputs,...
Describe in more detail exactly how Atrium Health System gets its raw materials or other inputs, converts them into a finished product or service, and gets that product or service into the hands of its customers. Be sure to discuss (1) who the organization’s upstream suppliers and downstream customers with names and locations
A. A company that purchases raw materials and converts them into finished products. B. A company...
A. A company that purchases raw materials and converts them into finished products. B. A company that sells manufactured products C. Provides information about a company's social and environmental impact D. The cost of not doing something E. Costs that can be reasonably traced to a cost object F. Costs that cannot be reasonably traced or are not worth the effort to trace to a cost object G. Costs that remain the same, regardless of the level of activity H....
Refer to the following integrated diagram, showing part of the purchases and sales processes linked to...
Refer to the following integrated diagram, showing part of the
purchases and sales processes linked to the conversion process, for
Questions 11 through 25.
7
Refer to the association marked with the number 1 in the
preceding diagram. Which of the following is the best description
of the association?
Multiple Choice
Each supplier participates in a minimum of zero purchases.
Each supplier participates in at least one purchase.
Each supplier participates in a maximum of one purchase.
Supplier in the...
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy...
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy is to distribute purchases equally among the three suppliers. The owner's son, Benjamin Bennet, just graduated from a business college. He proposes that these suppliers be rated (high numbers mean a good performance) on six performance criteria weighted as shown in the table. A total score hurdle of 0.60 is proposed to screen suppliers. Purchasing policy would be revised to order raw materials from...
Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw materials purchases in November is $286,032. The company pays for 40% of its raw materials purchases in the month of purchase and 60% in the following month. The budgeted accounts payable balance at the end of November is closest to: Multiple Choice 0 $114.413 0 $140,333 0 $171,619 0 C ) $285,032
Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $22,200 67,000 23,600 29,400 35,000 49,800 37,000 All raw materials used were traceable to specific units of product. Healey Company's Cost of Goods Manufactured for the year is: Multiple Choice $158,000. $152,400. Loo o C $149,600. $153,000 $146,800.
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio? Multiple Choice The ratio is not useful for a manufacturer Is calculated by taking the Raw materials used/Average raw materials inventory Reveals how many times a company turns over its raw materials inventory in a period, It measures how long it takes raw materials to be used in production Most companies generally prefer a higher number of days' soles in raw materials inventory
A. A company that purchases raw materials and converts them into finished products. B. A company that sells manufactured products C. Provides information about a company's social and environmental impact D. The cost of not doing something E. Costs that can be reasonably traced to a cost object F. Costs that cannot be reasonably traced or are not worth the effort to trace to a cost object G. Costs that remain the same, regardless of the level of activity H....
Refer to the following integrated diagram, showing part of the
purchases and sales processes linked to the conversion process, for
Questions 11 through 25.
7
Refer to the association marked with the number 1 in the
preceding diagram. Which of the following is the best description
of the association?
Multiple Choice
Each supplier participates in a minimum of zero purchases.
Each supplier participates in at least one purchase.
Each supplier participates in a maximum of one purchase.
Supplier in the...
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy is to distribute purchases equally among the three suppliers. The owner's son, Benjamin Bennet, just graduated from a business college. He proposes that these suppliers be rated (high numbers mean a good performance) on six performance criteria weighted as shown in the table. A total score hurdle of 0.60 is proposed to screen suppliers. Purchasing policy would be revised to order raw materials from...
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