Homework Answers
Average Inventory = (Beginning Inventory + Ending Inventory) /
2
Average Inventory = ($2,000,000 + $3,000,000) / 2
Average Inventory = $2,500,000
Inventory Period = 365 * Average Inventory / Cost of Goods
Sold
Inventory Period = 365 * $2,500,000 / $8,200,000
Inventory Period = 111.28 days
Average Accounts Receivable = (Beginning Accounts Receivable +
Ending Accounts Receivable) / 2
Average Accounts Receivable = ($1,600,000 + $2,000,000) / 2
Average Accounts Receivable = $1,800,000
Accounts Receivable Period = 365 * Average Accounts Receivable /
Net Sales
Accounts Receivable Period = 365 * $1,800,000 / $11,500,000
Accounts Receivable Period = 57.13 days
So, inventory and accounts receivable must be financed for 111.28 days and 57.13 days, respectively.
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A How long must Inventory and Accounts Receivable be financed given the following data? 1 2...
Net income Depreciation Expense Change in Accounts Receivable Change in Inventory Change in Accounts Payable OPERATING...
Net income Depreciation Expense Change in Accounts Receivable Change in Inventory Change in Accounts Payable OPERATING CASH FLOWS Acquisitions of fixed assets INVESTING CASH FLOWS Change in Notes Payable Change in Long-term debt Change in Common stock FINANCING CASH FLOWS NET CHANGE IN CASH CASH AT BEGINNING OF YEAR CASH AT END OF YEAR 2019 2018 change Cash 200,000 170,000 30,000 Accounts Receivable 864,000 700,000 164,000 Inventory 2,000,000 1,400,000 600,000 ...
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Hayward Manufacturing Company developed the following data: Beginning work in process inventory $1,000,000 Direct materials used...
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$ #1 JackJoe Corporation provided the following list of cost data related to its manufacturing operations...
$ #1 JackJoe Corporation provided the following list of cost data related to its manufacturing operations for the month of September 20X4. All raw materials are direct materials. Beginning raw materials inventory 500,000 Raw materials purchased (net) 2,000,000 Ending raw materials inventory 750,000 Direct labor costs 400,000 Factory rent (fixed) 125,000 Indirect labor (fixed) 95,000 Factory utilities and maintenance (fixed) 450,000 Factory depreciation (fixed) 56,000 Beginning work in process 777,000 Ending work in process 717,000 SG&A sales commissions variable 400,000...
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Need help with e and f
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