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Cost of Trade Credit
Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume payment is made either on the due date or on the discount date.
A. 1/15, net 20.B. 2/10, net 60.C. 3/10, net 45D. 2/10, net 45E. 2/15, net 40
Cash Conversion CycleThe Zocco Corporation has an inventory conversion period of 75 days, a receivables collection period of 38 days, and a payable deferral period of 30 days.
A. What is the length of the firm's cash conversion cycle?
B. If Zocco's annual sales are $3,421,875 and all sales are on credit, what is the firm's investment in accounts receivable?
C. How many times per year does Zocco turn over its inventory?
Williams Inc. estimated overhead to be $440000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000. Actual overhead for the year amounted for $500,000. What is the predetermined overhead rate?
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Management accounting formats are identical for all companies
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Sure Corporation has gathered the following information after its first year of sales. Net sales were $1,600,000 on 100,000 units; selling expenses $240,000 (40% variable and 60% fixed); direct materials $511,000; direct labor $285,000; administra..
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