Homework Answers
| Asset turnover ratio= | Net sales/average assets | |
| Average assets = | (Asset at beginning + Asset at end)/2 | |
| (34,000+26,000)/2 | ||
| $30,000 | ||
| Asset turnover ratio= | Net sales/average assets | |
| $15,000/$30,000 | ||
| 0.50 | ||
| Hence, option A is correct. 0.50 is asset turnover ratio | ||
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Right Corporation reported beginning and ending to 000 and 26 000, wat is alles for the...
Corporation reported beginning and ending total assets of $ 25 comma 000 and $ 22 comma...
Corporation reported beginning and ending total assets of $ 25 comma 000 and $ 22 comma 000, respectively. Its net sales for the year were $ 18 comma 800. What was Liberty's asset turnover ratio?
what is the correct answer choice i do not understand? Campbell Corporation reported net income of...
what is the correct answer choice i do not understand?
Campbell Corporation reported net income of $120,000, income before taxes of $261,000 and interest expense of $29,000. What is the times interest-earned ratio? (Round your final answer to two decimal places) OA. 4.14 OB 10.00 OC. 900 OD. 514 Click to select your answer -e to search
Question Completion Status: QUESTION 6 The Sun and Moon Corporation reported the following account balances as...
Question Completion Status: QUESTION 6 The Sun and Moon Corporation reported the following account balances as of December 31, 2020. What is their Cost of Goods Manufactured? Beginning work in process inventory Beginning finished goods inventory Beginning raw materials inventory. Ending work in process inventory Ending finished goods inventory Ending raw materials inventory Raw materials purchases Direct labor Indirect labor Factory rent Depreciation on factory equipment Factory supplies used O $135,000 $31.000 $15,000 23,000 7,000 26,000 30,000 15,000 60,000 50,000...
Newton Corporation reported an increase in inventory of $55,000. The cost of goods sold for the...
Newton Corporation reported an increase in inventory of $55,000. The cost of goods sold for the year was $190,000. There was also a $7,000 decrease in accounts payable from the beginning of the year to the end of the year. What is Newton's cash payment to suppliers for inventory? O A. $197,000 OB. $252,000 O C. $238,000 D. $245,000 Click to select your answer.
Raw materials purchased were $23.640 and ending inventory of raw material was $13,200 From process, what...
Raw materials purchased were $23.640 and ending inventory of raw material was $13,200 From process, what was the cost of materials used in production? beginning inventory was 20% of materials used in the OA $8,352 OB. $46,050 OC. $13,050 OD. $29,550 Click to select your answer Q Search or enter address A s D F G H J
od 150 for a from March 1 ment for the year ending December 317 December the...
od 150 for a from March 1 ment for the year ending December 317 December the companys A company u the first Dep sed 110 units for $30 each on January 31 purchased 150 units for $25 each on February 28. r o wentaryong method what is the amount of Cost of Goods Sold on the income ry system) o OA 52.300 14300 C32.750 OD 17.050 postindustrial ap for 1.000 a 70 for the right-in. The company sold the whole...
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were...
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were $153,000 and net purchases were $83,000. Cost of goods sold for the period was $77,000. What is Putter's rate of inventory turnover? (Round your answer to one decimal place.) O A. 3.1 times O B. 2.5 times O C. 2.7 times OD. 2.8 times
ALHOSO Corporation, direct materials are added at the beginning of the process and codversions costs are...
ALHOSO Corporation, direct materials are added at the beginning of the process and codversions costs are uniformly applied. Other details include: ch Beginning WIP direct materials Beginning WIP conversion costs Costs of materials added Costs of conversion added WIP beginning (50% for conversion) Units started a Units completed and transferred out WIP ending (60% for conversion) $33,000 $24.250 $389,100 $274,125 24,200 units 128,500 units 110,700 units 42,000 units What is the total cost of units completed and transferred out? distrib...
tches tions SportSupplies Corporation has budgeted purchases of inventory for December of $128,900. Expected beginning inventory...
tches tions SportSupplies Corporation has budgeted purchases of inventory for December of $128,900. Expected beginning inventory on December 1 and ending inventory on December 31 are $70,000 and $100,000, respectively. If cost of goods sold averages 86% of sales, what are budgeted sales for December? Enterpris O A $347,558 comma OB. $184 767 June $ 1 OC. $85,054 Solution: OD. $115,000 See solu Q: Cash dis schedule LOADIN A: See solu Q: Maris Br May, and in its pre A:...
Question 13 Cullumber Corporation has two products in its ending inventory, each accounted for at the...
Question 13 Cullumber Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for each product Specific data with respect to each product follows: Product #1 Product #2 Historical cost $29 $57 Replacement cost 15 31 Estimated cost to dispose 26 28 Estimated selling price 58 89 In pricing its ending inventory using the lower-of-cost-or-market, what unit values, rounded to the...
what is the correct answer choice i do not understand?
Campbell Corporation reported net income of $120,000, income before taxes of $261,000 and interest expense of $29,000. What is the times interest-earned ratio? (Round your final answer to two decimal places) OA. 4.14 OB 10.00 OC. 900 OD. 514 Click to select your answer -e to search
Question Completion Status: QUESTION 6 The Sun and Moon Corporation reported the following account balances as of December 31, 2020. What is their Cost of Goods Manufactured? Beginning work in process inventory Beginning finished goods inventory Beginning raw materials inventory. Ending work in process inventory Ending finished goods inventory Ending raw materials inventory Raw materials purchases Direct labor Indirect labor Factory rent Depreciation on factory equipment Factory supplies used O $135,000 $31.000 $15,000 23,000 7,000 26,000 30,000 15,000 60,000 50,000...
Newton Corporation reported an increase in inventory of $55,000. The cost of goods sold for the year was $190,000. There was also a $7,000 decrease in accounts payable from the beginning of the year to the end of the year. What is Newton's cash payment to suppliers for inventory? O A. $197,000 OB. $252,000 O C. $238,000 D. $245,000 Click to select your answer.
Raw materials purchased were $23.640 and ending inventory of raw material was $13,200 From process, what was the cost of materials used in production? beginning inventory was 20% of materials used in the OA $8,352 OB. $46,050 OC. $13,050 OD. $29,550 Click to select your answer Q Search or enter address A s D F G H J
od 150 for a from March 1 ment for the year ending December 317 December the companys A company u the first Dep sed 110 units for $30 each on January 31 purchased 150 units for $25 each on February 28. r o wentaryong method what is the amount of Cost of Goods Sold on the income ry system) o OA 52.300 14300 C32.750 OD 17.050 postindustrial ap for 1.000 a 70 for the right-in. The company sold the whole...
Putter Corporation had beginning inventory of $25,000 and ending inventory of $31,000. Its net sales were $153,000 and net purchases were $83,000. Cost of goods sold for the period was $77,000. What is Putter's rate of inventory turnover? (Round your answer to one decimal place.) O A. 3.1 times O B. 2.5 times O C. 2.7 times OD. 2.8 times
ALHOSO Corporation, direct materials are added at the beginning of the process and codversions costs are uniformly applied. Other details include: ch Beginning WIP direct materials Beginning WIP conversion costs Costs of materials added Costs of conversion added WIP beginning (50% for conversion) Units started a Units completed and transferred out WIP ending (60% for conversion) $33,000 $24.250 $389,100 $274,125 24,200 units 128,500 units 110,700 units 42,000 units What is the total cost of units completed and transferred out? distrib...
tches tions SportSupplies Corporation has budgeted purchases of inventory for December of $128,900. Expected beginning inventory on December 1 and ending inventory on December 31 are $70,000 and $100,000, respectively. If cost of goods sold averages 86% of sales, what are budgeted sales for December? Enterpris O A $347,558 comma OB. $184 767 June $ 1 OC. $85,054 Solution: OD. $115,000 See solu Q: Cash dis schedule LOADIN A: See solu Q: Maris Br May, and in its pre A:...
Question 13 Cullumber Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for each product Specific data with respect to each product follows: Product #1 Product #2 Historical cost $29 $57 Replacement cost 15 31 Estimated cost to dispose 26 28 Estimated selling price 58 89 In pricing its ending inventory using the lower-of-cost-or-market, what unit values, rounded to the...
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