Problem 13-15 The owner of a large machine shop has just finished its financial analysis from...
Problem 13-15
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report:
|
Net revenue |
$ |
365,000 |
|
Cost of goods sold |
316,000 |
|
|
Value of production materials on-hand |
42,500 |
|
|
Value of work-in-process inventory |
41,000 |
|
|
Value of finished goods on-hand |
14,500 |
- Compute the inventory turnover ratio (ITR) (Round answer 1 decimal place)
Inventory Turnover Ration ______ per year
- Compute the weeks supply (WS) (Don’t round intermediate calculations, round 1 decimal place)
Weeks of supply _____
Homework Answers
Answer: Inventory turnover ratio = COGS / Average inventory
Since opening and closing inventory is not given, we'll take total inventory as Average inventory
A) ITR = 316000/ (42500+41000+14500) =3.22
B) Weeks of supply = 52/ITR = 52/3.2244= 16.13 week
Add Answer to:
Problem 13-15
The owner of a large machine shop has just finished its
financial analysis from...
HW 12LC: Inventory Saved Help Save&Exit Submit 2 The Grinell Machine Shop makes a line of metal tables. Some of these tables are carried in finished goods inventory. A particular table has the fo...
HW 12LC: Inventory Saved Help Save&Exit Submit 2 The Grinell Machine Shop makes a line of metal tables. Some of these tables are carried in finished goods inventory. A particular table has the following characteristics Sales- 300 per year · Setup cost = $1200 per setup (this includes machine setup for all the different parts in the table) Carrying cost 20 percent per year Item cost $25 20 points Print a. How many of these tables should be made in...
The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air...
The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville, Kentucky, in the United States. They are distributed to retailers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following data relating to the value of inventory in the U.S. Airfilter supply chain: QUARTER 1 (JANUARY THROUGH MARCH)...
The following financial information is for Cullumber Company. Problem 13-04A The following financial information is for...
The following financial information is for Cullumber
Company.
Problem 13-04A The following financial information is for Cullumber Company. CULLUMBER COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 51,000 Accounts receivable 109,000 Inventory 237,000 Prepaid expenses 28,000 Land 131,000 Building and equipment (net) 259,000 Total assets $887,000 Liabilities and Stockholders' Equity Notes payable $169,000 Accounts payable 69,000 Accrued liabilities 41,000 Bonds payable, due 2025 252,000 Common stock, $10 par 209,000 Retained earnings 147,000 Total liabilities and...
Summary information from the financial statements of two companies competing in the same industry follows. Problem...
Summary information from the financial statements of two companies competing in the same industry follows. Problem 13-5A Comparative ratio analysis A1P3 T Barco Company Kyan Company Barco Сотрату Kyan Сотрату Sales Data from the current year-end balance sheets Assets Cash ... $19,500 Accounts receivable, net 37.400 Current notes receivable (trade).... 9.100 Merchandise inventory.......... 84.440 Prepaid expenses 5.000 Plant assets, net... 290,000 Total assets.. $445,440 $ 34,000 57.400 7.200 132.500 6.950 304,400 $542.450 Data from the current year's income statement $770,000...
"Exercise 9-13 The condensed financial statements of Ness Company for the years 2016 and 2017 are...
"Exercise 9-13 The condensed financial statements of Ness Company for the years 2016 and 2017 are presented below. NESS COMPANY Balance Sheets December 31 (in thousands) 017 2016 $330 . Current assets hand cashewivalents Accounts receivable (net) Inventory 10 Total current assets Property, plant, and equipment (net) 1.390 410 1,300 30 Intang bles and others asets 530 510 12.340 32,210 $820 5790 Long term Stockholders equity common Total abilities and 1.040 1,040 requity 12.10 $2,210 Income Statements For the Year...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 54,000 Accounts receivable 109,000 Inventory 235,000 Prepaid expenses 26,000 Land 134,000 Building and equipment (net) 259,000 Total assets $889,000 Liabilities and Stockholders' Equity Notes payable $170,000 Accounts payable 66,000 Accrued liabilities 41,000 Bonds payable, due 2025 249,000 Common stock, $10 par 198,000 Retained earnings 165,000 Total liabilities and stockholders' equity $889,000 2021 $ 67,000 39,000 92,000...
PLEASE HELP! Problem 15-15 Comprehensive Ratio Analysis [LO15-2, LO15-3, LO15-4, LO15-5, LO15-6] You have just been...
PLEASE HELP!
Problem 15-15 Comprehensive Ratio Analysis [LO15-2, LO15-3,
LO15-4, LO15-5, LO15-6]
You have just been hired as a financial analyst for Lydex
Company, a manufacturer of safety helmets. Your boss has asked you
to perform a comprehensive analysis of the company’s financial
statements, including comparing Lydex’s performance to its major
competitors. The company’s financial statements for the last two
years are as follows:
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
900,000
$...
Problem 13-23A Ratio analysis LO 13-2, 13-3, 13-4, 13-5 The following financial statements apply to Vernon...
Problem 13-23A Ratio analysis LO 13-2, 13-3, 13-4, 13-5 The following financial statements apply to Vernon Company: Year 4 Year 3 Revenues Net sales $ 210,400 $ 176,900 Other revenues 8,500 5,900 Total revenues 218,900 182,800 Expenses Cost of goods sold 124,400 101,900 Selling expenses 19,500 17,500 General and administrative expenses 10,200 9,200 Interest expense 2,700 2,700 Income tax expense 20,800 16,800 Total expenses 177,600 148,100 Net income $ 41,300 $ 34,700 Assets Current assets Cash $ 5,100 $ 6,700...
E13-10 Inferring Financial Information from Profitability and Liquidity Ratios (LO 13-4, LO 13-5) Dollar General Corporation...
E13-10 Inferring Financial Information from Profitability and Liquidity Ratios (LO 13-4, LO 13-5) Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle-, low, and fixed-income families in southern, eastern, and midwestern states. For the year ended January 29, 2016, the company reported average inventories of $2,900 (in millions) and an inventory turnover of 4.83. Average total fixed assets were $2,190 (million) and the fixed asset turnover ratio was 9.32...
Help I System Announcements Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017...
Help I System Announcements Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Corporation Wal-Mart CTAR Inc. Income Statement Data for Year $66,900 45,000 15,000 700 $419,000 309,000 80,000 1,900 Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income (80) (390) 1,500 6,700 $4,620 21,010 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term...
HW 12LC: Inventory Saved Help Save&Exit Submit 2 The Grinell Machine Shop makes a line of metal tables. Some of these tables are carried in finished goods inventory. A particular table has the following characteristics Sales- 300 per year · Setup cost = $1200 per setup (this includes machine setup for all the different parts in the table) Carrying cost 20 percent per year Item cost $25 20 points Print a. How many of these tables should be made in...
The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville, Kentucky, in the United States. They are distributed to retailers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following data relating to the value of inventory in the U.S. Airfilter supply chain: QUARTER 1 (JANUARY THROUGH MARCH)...
The following financial information is for Cullumber
Company.
Problem 13-04A The following financial information is for Cullumber Company. CULLUMBER COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 51,000 Accounts receivable 109,000 Inventory 237,000 Prepaid expenses 28,000 Land 131,000 Building and equipment (net) 259,000 Total assets $887,000 Liabilities and Stockholders' Equity Notes payable $169,000 Accounts payable 69,000 Accrued liabilities 41,000 Bonds payable, due 2025 252,000 Common stock, $10 par 209,000 Retained earnings 147,000 Total liabilities and...
Summary information from the financial statements of two companies competing in the same industry follows. Problem 13-5A Comparative ratio analysis A1P3 T Barco Company Kyan Company Barco Сотрату Kyan Сотрату Sales Data from the current year-end balance sheets Assets Cash ... $19,500 Accounts receivable, net 37.400 Current notes receivable (trade).... 9.100 Merchandise inventory.......... 84.440 Prepaid expenses 5.000 Plant assets, net... 290,000 Total assets.. $445,440 $ 34,000 57.400 7.200 132.500 6.950 304,400 $542.450 Data from the current year's income statement $770,000...
"Exercise 9-13 The condensed financial statements of Ness Company for the years 2016 and 2017 are presented below. NESS COMPANY Balance Sheets December 31 (in thousands) 017 2016 $330 . Current assets hand cashewivalents Accounts receivable (net) Inventory 10 Total current assets Property, plant, and equipment (net) 1.390 410 1,300 30 Intang bles and others asets 530 510 12.340 32,210 $820 5790 Long term Stockholders equity common Total abilities and 1.040 1,040 requity 12.10 $2,210 Income Statements For the Year...
Problem 13-04A The following financial information is for Blossom Company. BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 Cash $ 72,000 Debt investments (short-term) 54,000 Accounts receivable 109,000 Inventory 235,000 Prepaid expenses 26,000 Land 134,000 Building and equipment (net) 259,000 Total assets $889,000 Liabilities and Stockholders' Equity Notes payable $170,000 Accounts payable 66,000 Accrued liabilities 41,000 Bonds payable, due 2025 249,000 Common stock, $10 par 198,000 Retained earnings 165,000 Total liabilities and stockholders' equity $889,000 2021 $ 67,000 39,000 92,000...
PLEASE HELP!
Problem 15-15 Comprehensive Ratio Analysis [LO15-2, LO15-3,
LO15-4, LO15-5, LO15-6]
You have just been hired as a financial analyst for Lydex
Company, a manufacturer of safety helmets. Your boss has asked you
to perform a comprehensive analysis of the company’s financial
statements, including comparing Lydex’s performance to its major
competitors. The company’s financial statements for the last two
years are as follows:
Lydex Company
Comparative Balance Sheet
This Year
Last Year
Assets
Current assets:
Cash
$
900,000
$...
E13-10 Inferring Financial Information from Profitability and Liquidity Ratios (LO 13-4, LO 13-5) Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle-, low, and fixed-income families in southern, eastern, and midwestern states. For the year ended January 29, 2016, the company reported average inventories of $2,900 (in millions) and an inventory turnover of 4.83. Average total fixed assets were $2,190 (million) and the fixed asset turnover ratio was 9.32...
Help I System Announcements Problem 13-5A Suppose selected financial data of Target and Wal-Mart for 2017 are presented here (in millions). Target Corporation Wal-Mart CTAR Inc. Income Statement Data for Year $66,900 45,000 15,000 700 $419,000 309,000 80,000 1,900 Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income (80) (390) 1,500 6,700 $4,620 21,010 Balance Sheet Data (End of Year) Current assets Noncurrent assets Total assets Current liabilities Long-term...
Most questions answered within 3 hours.
-
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 35 minutes ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 59 minutes ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 1 hour ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 1 hour ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 1 hour ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 2 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 5 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 6 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 6 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 6 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 6 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 6 hours ago