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The following information was available for Bowyer Company at December 31, 2010: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $660,000; and sales $900,000. Bowyer's inventory turnover ratio in 2010 was:
A) 9.4 times.
B) 8.3 times.
C) 7.3 times.
D) 6.0 times.
For the month of October, Pratt Corporation predicts total cash collections to be $1 million. Also for October, Pratt Corporation estimates its beginning cash balance will be $50,000 and that it will borrow cash in the amount of $70,000. If Pratt ..
Compute 3M's average collection period for accounts receivable in days. (Round turnover ratio to 1 decimal place, e.g. 10.5 and collection period to 0 decimal places, e.g. 125.)
Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of January?
What criterion must be met for true comparability?
Discuss whether direct labor is a fixed or a variable cost. What are the pros and cons of management treating direct labor as a variable cost?
BunaBuna has been growing at a 15 percent annual rate and is expected to continue to do so for 3 more years. At that time, growth is expected to slow to a constant 4 percent rate.
Define variable and fixed costs. Comment on how these costs are used to estimate future requirements. Discuss how contribution margin is used by managers for decision making.
What accounting and other information could you look at to assist management in computing possible damages?
Following are selected accounts for Green Corporation and Vega Company as of December 31, 2010. Several of Green's accounts have been omitted. Compute the book value of Vega at January 1, 2006
Mr. Rosen is the manager of a division of Jokkmok Industries. He is one of several managers being considered for the position of CEO, as the current CEO is retiring in a year.
Write down the differences between traditional and derivative instruments. Why do companies use derivative instruments? Are derivatives a good investment?
Why are fringe benefits provided by employers to employees more valuable to those employees than if the employer simply gave the employees the money necessary to purchase those fringe benefits?
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