Based on the information in Table 4-1, the inventory turnover ratio is
A) 1.3 times. B) 2.5 times. C) 2.0 times. D) 2.9 times.
C
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______ questions allow the greatest flexibility in terms of how interviewees answer questions.
a. Closed-ended b. Probing c. Open-ended d. Leading
Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on account would be:
A. Debit Cash of $625 and credit Sales $625. B. Debit Accounts Receivable $625 and credit Sales $625. C. Debit Cash of $625 and credit Accounts Receivable $625. D. Debit Sales $625 and credit Accounts Receivable $625. E. Debit Accounts Receivable $625 and credit Cash $625.
Baker Inc, a local manufacturer of cooking tools, had the following information available for 2013: Budgeted sales for 2013 250,000 units Units in beginning inventory (1/1/2013 ) 5,000 units Units produced during 2013 265,000 units Units in ending inventory (12/31/2013 ) 2,000 units How many units should Baker's 2013 flexible sales budget be based upon?
A) 268,000 units B) 265,000 units C) 245,000 units D) 262,000 units
J&H Company has a router platform with a book value of $65,000 and a three-year remaining life. A new router platform is available at a cost of $125,000, and J&H can also receive $16,000 for trading in the old router platform. The new router platform will reduce variable manufacturing costs by $31,000 per year over its three-year life. Should the router platform be replaced?
A. No, it will decrease income by $16,000 in total. B. J&H will be not be better or worse off by replacing the router platform. C. Yes, as the company will increase income by $16,000 total. D. Yes, as will increase income by $31,000 in total. E. Yes, as it is always important to have the current technology.