Inventory turnover
A. is calculated by dividing accounts receivable by average inventory.
B. is calculated by dividing accounts receivable by net sales.
C. equals net sales minus cost of goods sold divided by average turnover.
D. equals total assets minus current assets divided by average inventory.
E. is calculated by dividing cost of goods sold by average inventory.
Answer: E
You might also like to view...
The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales),
and servicing them (service). A) operations processes B) manufacturing processes C) primary activities D) secondary activities E) tertiary activities
What is referred to now as a commonly used form of scale for measurement?
a. Rensis Scale b. Likert Scale c. Survey Scale d. Research Scale
Fluegge Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateDirect materials 5.7liters$5.40per literDirect labor 0.70hours$20.60per hourVariable manufacturing overhead 0.70hours$5.50per hour?The company has reported the following actual results for the product for December: Actual output 4,100unitsRaw materials purchased 25,100litersActual price of raw materials$4.80per literActual cost of raw materials purchased$120,480 Raw materials used in production 23,360litersActual direct labor-hours 2,700hoursActual direct labor rate$21.20per hourActual direct labor
cost$57,240 Actual variable overhead rate$5.90per hourActual variable overhead cost$15,930 ?The variable overhead efficiency variance for the month is closest to: A. $935 F B. $1,003 U C. $1,003 F D. $935 U
Investments in equity securities where the investor has a controlling influence are accounted for using the ________.
What will be an ideal response?