The average collection period is 49.14.
What is the average collection period?
The average collection period calculates the number of times in a year that accounts receivable is converted to cash. Accounts receivable is the ratio of revenue and receivables.
Both accounts receivable and the average collection period are examples of activity ratios. Activity ratios calculates the efficiency with which a firm performs its daily tasks.
Accounts receivable = revenue / receivables
$2,953,600 / $397,615 = 7.428
The average collection period: 365/ receivables turnover
365 / 7.428 = 49.14
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In a ______ decision process, users, influencers, or deciders in the buying center want to change product specifications, price, delivery schedule, or suppliers.
In a modified rebuy decision process, users, influencers, or deciders in the buying center want to change product specifications, price, delivery schedule, or suppliers.
In a modified rebuy, a corporation can renew a product from a vendor that has been approved, but certain changes are made to the product's features, design, packaging, quantity, and delivery schedules. This change may be reflected in the client's requirements or alternatively in the supplier's offering.
Modified Rebuy assists the company in making significant time savings. Businesses keep a list of these products and supplies that can be repurchased from the same supplier or from a different one on a pre-approved list who has already been on board and is familiar with the requirements.
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Marketing strategy ends with conducting a market analysis.
a. true
b. false
The answer is true. A marketing strategy is a company's overall game plan for reaching out to prospective customers and converting them into customers of their products or services. A marketing plan includes the value proposition of the organization, key brand message, statistics on target customer demographics, and other high-level elements.
A comprehensive marketing strategy addresses the four Ps of marketing: product, pricing, place, and promotion. A marketing strategy is a company's plan for reaching out to potential customers and converting them into clients of their products or services. A well-defined marketing strategy should focus around the firm's value proposition.
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a company started the month with $1,000 of retained earnings. during the month, it had revenue of $5,000 and expenses of $4,500. it also distributed a dividend of $100 among its stockholders. the company's retained earnings at the end of the period equals
The company's retained earnings at the end of the period equals $1,400
What is closing retained earnings?
The company's retained earnings at the end of the period means the beginning retained earnings plus the net income for the period minus the portion of the net income paid to shareholders as dividends
ending retained earnings=beginning retained earnings +net income-dividends
beginning retained earnings=$1000
net income=revenue-expenses
net income=$5000-$4,500
net income=$500
dividends=$100
ending retained earnings=$1000+$500-$100
ending retained earnings=$1,400
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What is an extended title coverage policy that insures against many of the items excluded in the clta standard policy?
American Land Title Association (ALTA) - a policy that provides additional coverage for many of the items prohibited by the CLTA basic insurance. This policy protects the lender, not the buyer. A survey or physical inspection of the property is included. The American Land Title Organization (ALTA) represents the title insurance business as a trade association.
The ALTA, which was founded in 1907, likewise focuses on a property's abstract of title, which relates the history of the title to a specific piece of real estate. The organization's goal is to strengthen industry monitoring and protect consumers. The ALTA in the administration of the title insurance sector.
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Custom creations furniture company manufactures furniture at its akron, ohio, factory. some of its costs from the past year include:______.
The manufacturing overhead costs from customs creation furniture would be put as $261800.
What is meant by manufacturing overhead?This is the term that is used to refer to all of the indirect costs that would be incurred due to the fact that a product is being produced
The calculation would be:
Depreciation on factory equipement = $16,800
Add: Factory supervisory salary = 50,700
Add: Lubricants used in factory equipment = 3,200
Add: Insurance costs for factory= 21,800
Add: Wages paid to maintenance workers = 115,200
Add: Utilities in factory = 54,100
We would have to sum up all of these values = $16,800 + 50,700 + 3,200 + 21,800 + 115,200 + 54,100
Hence the total manufacturing over cost would be $261,800
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What is the value of the building that earns 825 monthly and earns owner 14 annual income?
$70,174 is the value of the building that earns 825 monthly and earns owner 14 annual income. Hence, option B is correct.
What is annual income?A person's yearly income is the sum of money you earn each year. Your income includes your normal salary as well as any overtime pay, tips, commissions, or bonuses that you may have received. There are two alternative phrases that can be used to describe it: gross yearly income and net annual income.
The yearly income is the sum of money you earn each year. The income includes normal salary as well as any overtime pay, tips, commissions, or bonuses that you may have received.
Thus, option B is correct.
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The options are missing-
A) $58,928
B) $70,174
C) $90,514
D) $106,932
Gives details about the company’s cash at the beginning of the year and what is left at the end of the year, including some details about where cash was generated and where it was used during the course of the year.
Gives details about the company’s cash at the beginning of the year and what is left at the end of the year, including some details about where cash was generated and where it was used during the course of the year.
Statement of Cash Flows
What is Statement of Cash Flows?
A cash flow statement is a type of financial statement that gives total information about all of the cash inflows a business makes from continuing activities and outside investment sources. It also includes any cash outflows made within a specific time period to cover investments and business expenses. Key cash flow calculations to be aware of:Net income plus depreciation and amortization, changed working capital, and capital expenditure are all included in free cash flow. Operating Cash Flow is calculated by adding operating income to depreciation, taxes, and any changes to working capital.
Therefore,
Gives details about the company’s cash at the beginning of the year and what is left at the end of the year, including some details about where cash was generated and where it was used during the course of the year.
Statement of Cash Flows
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A ______ analysis is an assessment of the strengths, weaknesses, opportunities, and threats affecting the organization.
Strength analysis is an assessment of the strengths, weaknesses, opportunities, and threats affecting the organization.
With increasing competition in the business organization, there is always a need of assessment where the organization is heading, typical earning of profits are done or not and what changes are to be made to grab new opportunities existing in the market.
It helps to analyze strengths and policies that are to be changed to let one remain in the ups and downs of the market. It also helps to gather information about threats and convert them into something beneficial.
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How does the average daily water consumption per person in the united states compare to other countries?
Answer:
The U.S. uses a large amount of water each day compared to other countries. Average person in U.S.: 156 gallons a day Average person in France: 77 gallons a day
Explanation:
Companies recognize revenue before the cash has been collected when using ______ accounting.
Companies recognize revenue before the cash has been collected when using "Cash Basis" accounting.
This is further explained below.
What is Cash Basis?Generally, The cash method of accounting, which is also known as cash-basis accounting, cash receipts and disbursements method of accounting, or cash accounting, records revenue and expenses based on whether or not they are paid in cash.
Other names for this method of accounting include cash accounting, cash-basis accounting, and cash receipts and disbursements method of accounting.
In conclusion, When utilizing "cash basis" accounting, companies record revenue even before they have received all of the cash necessary to pay for it.
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How many days of sales are in receivables at year-end? multiple choice a. 51.40 days b. 40.32 days c. 54.53 days d. 29.41 days e. 38.00 days
The number of days of sales in receivables at year-end can be found to be e. 38.00 days.
What were the days of sales in receivables?The Days of sales in receivables at year end can be found as:
= (Ending accounts receivable / Sales) x 360 days
The Account receivables were $86,150 and sales were $827,500.
The Days of sales in receivables at year end is:
= (86,150 / 827,500) x 360
= 38 days
Missing part of question:
Income Statement For the Year
Net sales $827,500
COGS 611,800
Depreciation 23,100
EBIT $192,600 Interest 9,700
Taxable income $182,900 Taxes 6,200
Net income $176,700
Balance Sheet Beginning of Year End of Year Cash $ 38,200 $43,700
Accounts receivable 91,400 86,150
Inventory 203,900 214,600 Net fixed assets 516,100 537,950 Total assets $849,600 $882,400
Accounts payable $136,100 $104,300 Long-term debt 329,500 298,200 Common stock ($1 par value) 75,000 82,000
Retained earnings 309,000 397,900
Total Liab. & Equity $849,600 $882,400
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NEED HELP ASAP Select the correct answer.
In the following sentence, identify the sequence of the criteria based on SMART principles. Your choice of sequence should match the sequence of italicized phrases.
“Given my current skill set and educational qualifications, I wish to become an analyst with a leading credit rating firm in the next five to seven years.”
A-Time Bound, Specific, Realistic
B-Time Bound, Realistic, Specific
C-Specific, Realistic, Time Bound
D-Realistic, Specific, Time Bound
The correct sequence of the criteria based on SMART principles in the given sentence is:C - Specific, Realistic, Time Bound .Option C is correct.
SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. In the sentence provided, the italicized phrases are "analyst with a leading credit rating firm" (Specific), "given my current skill set and educational qualifications" (Realistic), and "in the next five to seven years" (Time-Bound).
Specific: The goal is clearly defined as becoming an analyst with a leading credit rating firm.Realistic: The goal is based on the person's current skill set and educational qualifications.Time Bound: The goal has a specified timeframe of five to seven years.Therefore, the correct sequence is C - Specific, Realistic, Time Bound.Option C is correct.
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Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year?.
Your question is incomplete. Here is the full question:
The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Bal 0 (b) 156,400 (a) 170,000 13,600 Work In Process Bal 0 (f) 519,600 (b) 133,200 (c) 170,400 (e) 216,000 0 Finished Goods Bal 0 (g) 472,000 (f) 519,600 47,600 Manufacturing Overhead (b) 23,200 (e) 216,000 (c) 27,200 (d) 158,400 7,200 Cost of Goods Sold (g) 472,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year?
Answer:
Used in Production $ 133,200
Explanation:
Raw Materials T accounts:
DEBIT CREDIT
Beginning 0
Used 156,400
Purchased 170,000
Ending Balance 13,600
Glancing at the T-account, the debit conveys purchases of Raw materials, while the credit is the number of materials utilized, whether indirect or direct.
To glance for the amount used, we glance into:
WIP inventory
DEBIT CREDIT
133,200 <-- DIRECT MATERIALS
Manufacturing Overhead
DEBIT CREDIT
23,200 <-- INDIRECT MATERIALS
Job order costing is a costing technique utilized to define the cost of production per product. This costing method is normally adopted when a manufacturer delivers various products and requires calculating costs for doing individual jobs. Job costing incorporates direct labor, direct materials, and manufacturing overhead for that special job.
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Frequently purchased, relatively low-cost products for which customers have little interest in seeking new information and rely heavily on prior purchase behavior are called ________ goods.
Regularly purchased, especially low-value products for which clients have little interest in looking for new facts and depend heavily on earlier buy behavior are known as convenience frequently purchased goods.
In advertising, a product is an object, gadget, or service made to be had for patron use as of the customer call; it's far anything that can be supplied to a market to satisfy the choice or want of a consumer. something this is made to be bought, normally something that is produced by using an industrial manner or, much less typically, something this is grown or received via farming: They do more than a few pores and skin-care merchandise. The product is so precise it sells itself.
Suitable products ought to have a solid fee proposition and clear up actual trouble, be understandable to customers, carry out their venture as easily and efficaciously as possible, and emerge as higher and harder to part with the more they may be used. A simple product is a physical object with an easy SKU and is the most fundamental form of all merchandise. A simple product can be offered individually, or beneath grouped, packaged, or configurable products.
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The _____ is a group of persons within an organization who participate in the buying process and share common goals, risks, and knowledge important to the purchase decision.
The buying center is a group of persons within an organization who participate in the buying process and share common goals, risks, and knowledge important to the purchase decision.
A buying center is a group within a company made up of employees and other organization members who are responsible for managing the purchasing process and making crucial decisions on the acquisition of goods and services.
A number of organizational departments, including finance, IT, purchasing, accounting, and senior management, must make significant contributions to key purchases in an organizational environment. Participants in the buying center depend on the products or services bought. The Buying Center is a key idea in consumer insight. Understanding it will help you make wiser judgments in management, sales, product development, and marketing. It offers information so you may decide on your brand's operating channels and a clear storyline.
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Suppose+$20,000+is+deposited+into+an+account+paying+4.5%+interest,+compounded+annually.+how+much+money+is+in+the+account+after+four+years+if+no+withdrawals+or+additional+deposits+are+made?
Money in the account after four years after compounded annually = 23850.372
Given, P = 20,000
R = 4.5%
T = 1
n = 4
To calculate Compound interest, we will use the formula A = P(1 + r/n)^nt
where
p = principal amount,
r = rates of interest
n = number of times interest applied per time period
t = number of time periods elapsed
After putting values,
A = 20000(1 + 4.5/4 )^(4*1)
= 23850.372.
Compounding is the manner where which the hobby is credited to a current most important quantity in addition to hobby already paid. Compounding for that reason may be construed as a hobby on a hobby—the impact of the t is to exaggerate returns to the hobby over time, the so-called “miracle of compounding.”
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Disclaimer: The question is incomplete. Please read below to find the missing content.
Suppose $20,000 is deposited into an account paying 4.5% interest, compounded annually. How much money is in the account after four years if no withdrawals or additional deposits are made?
Entrepreneurs that are committed to both good business and changing the world for the better are known as?
Entrepreneurs that are committed to both good business and changing the world for the better are known as social entrepreneurs.
Who is an entrepreneur?An entrepreneur can be defined as an individual who is involved in the buying and selling of goods and services, usually from scratch or in a small capacity.
The qualities and characteristics of a entrepreneur.Generally, some examples of the qualities and characteristics of a successful entrepreneur include the following:
Socially responsibleCuriosityAn entrepreneur is a planner.An entrepreneur is a money manager.Adaptability.An entrepreneur never give up.An entrepreneur is business savvy.Decisiveness.An entrepreneur is passionate.Team Building.Risk Tolerance.Comfortable with Failure.An entrepreneur is confident.In this context, we can reasonably infer and logically deduce that entrepreneurs that are committed to both good business and changing the world for the better are known as social entrepreneurs because they are committed to both a positive social change and good business.
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A. if the flashlight torch sells for $50, how many torches must hurricane sell each year to break even?
The torches must hurricane sold each year to break even is $ 21000.
Ending inventory value of torch = 1000 * 21(NOTE 1) = $ 21000
Total Variable Cost Per Torch = Direct Material + Direct Labor + Manufacturing Overhead (Variable)
= 11 + 4.50 + 5.50
= $ 21
Conclusion:- Ending inventory value of torches = $ 21000.
Break-even evaluation is an extremely useful tool for a business and has some significant benefits: it shows what number of products they want to promote to make certain a income. it indicates whether or not a product is well worth selling or is simply too volatile. it suggests the quantity of revenue the commercial enterprise will make at each level of output.
The damage-even factor is the factor at which overall price and total sales are equal, meaning there's no loss or advantage to your small commercial enterprise. In different words, you have reached the level of production at which the prices of production equal the sales for a product.
Break-even analysis is a manner to find out the minimal income volume in order that a business does now not suffer losses. A smash-even factor evaluation is a powerful tool for making plans and decision making, and for highlighting essential information like charges, portions bought, prices, and so much greater.
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The torches must hurricane sold each year to break even is $ 21000.
Ending inventory value of torch = 1000 * 21(NOTE 1) = $ 21000
Total Variable Cost Per Torch = Direct Material + Direct Labor + Manufacturing Overhead (Variable)
= 11 + 4.50 + 5.50
= $ 21
Conclusion:- Ending inventory value of torches = $ 21000.
Break-even evaluation is an extremely useful tool for a business and has some significant benefits: it shows what number of products they want to promote to make certain a income. it indicates whether or not a product is well worth selling or is simply too volatile. it suggests the quantity of revenue the commercial enterprise will make at each level of output.
The damage-even factor is the factor at which overall price and total sales are equal, meaning there's no loss or advantage to your small commercial enterprise. In different words, you have reached the level of production at which the prices of production equal the sales for a product.
Break-even analysis is a manner to find out the minimal income volume in order that a business does now not suffer losses. A smash-even factor evaluation is a powerful tool for making plans and decision making, and for highlighting essential information like charges, portions bought, prices, and so much greater.
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when consumers make decisions without much thought or product comparison, they are engaged in .
when consumers make decisions without much thought or product comparison, they are engaged in Habitual decision making.
What is Habitual decision making?
Routine decision-making is another name for habitual decision-making. This is due to the fact that when an issue is identified, consumers do not at all seek information. Choice is frequently driven by habit. When a consumer wants to address a problem, they typically have a certain brand in mind since they are confident that brand or product will be beneficial. Customers might have a preferred kind of beverage that they reach for when they are thirsty as an example.Consumer purchasing habits may also result from the fact that the buyer finds the product to be the best fit for his needs and continues to purchase it without seeking for alternatives. And it doesn't imply that the customer has less options and must make a decision regardless.To know more about Habitual decision making visit:
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in what way does a deductible help an insurance company? it adds to the company’s pool of funds. it increases consumers' insurance premiums.
The deductible help an insurance company, it lowers the payout the company has to make. Thus, option (c) is correct.
What is insurance?
The term “insurance” refers to risk management. The amount of compensation paid by insurance companies is inversely proportional to the loss caused by the unfavorable event.
A deductible is the sum of money that a policyholder must pay before the insurance company begins to pay. Because the amount is deductible, the insurance company is paying the claim. It reduces the amount of money the corporation has to pay out.
Therefore, option (c) is correct.
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Your question is incomplete, but most probably the full question was:
It adds to the company's pool of funds.It increases consumers' insurance premiums.It lowers the payout the company has to make.It reduces consumers' co-payments.which of the following are the principles that ethical, successful companies embrace? (check all that apply.)multiple select question.having a sense of purpose or visionemphasizing mutual benefits with customers, vendors, and clientsemphasizing fairnesshaving employees assume responsibility for company actionsputting the needs of the company first
The principles that an ethical & successful companies embrace includes:
having a sense of purpose or vision.having employees assume responsibility for company actions.emphasizing mutual benefits with customers.emphasizing fairness.What is an ethical company?Basically, an ethical company refers to those a company that has clearly defined environment, Social, and Governance principles. It means that the company conforms with the relevant laws and regulations; that is, the company is following the rules set out by government.
In this context, the principles that an ethical & successful companies embrace includes having a sense of purpose or vision, having employees assume responsibility for company actions, emphasizing mutual benefits with customers and emphasizing fairness.
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The principles that ethical, successful companies embrace are :
having a sense of purpose or vision. having employees assume responsibility for company actionsemphasizing mutual benefits with customers emphasizing fairnessWhat Is Business Ethics?By definition, business ethics can be described as the standards for morally right as well well as the wrong conduct in business.
It should be noted that Business ethics help to uphold law through the sating out of acceptable behaviors beyond government control.
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Companies that understand how their products _____________________ achieve double the ___________________ of their less-in-touch rivals.
Companies that understand how their products Meet customer's needs achieve double the record hits of their less-in-touch rivals. Meeting the requirements of customers is critical for any business wanting to maintain and attract new clients.
Because, as important as the discovery step is, your understanding of what your consumer requires from you is only as good as how you apply it. It allows you to make the correct changes at the right moment to optimize the client journey and meet their needs. Excellent customer service is a proven way to exceed customer expectations since it develops lifelong customers who will recommend your Companies to friends, family, and colleagues.
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there are times when secrecy might make sense to publics. for example, apple denied requests from the fbi to hand over the required code to unlock their phone so the company could protect its proprietary information. in cases like apple’s, organizations can still .
There are times when secrecy might make sense to publics. Apple denied requests from the FBI to hand over its code to unlock their phone to protect proprietary information to compete in markets. In cases like Apple's, organizations can still say we can't talk about it.
What is meant by proprietary information?
Proprietary Information” means the information that is developed, created, or discovered by the company, or which became known by, or was conveyed to the company, that has commercial value in the company’s business.
Company’s actual or anticipated business, research or development, or which is received in confidence by or for the Company from any other person.
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Even at rest, most neurons have periodic production of action potentials, known as the ____. group of answer choices
Even at rest, most neurons have periodic production of action potentials, known as the Spontaneous firing rate.
What is action potential in a neuron?
Activity potentials (those electrical impulses that send signals around your body) are nothing more than a temporary move (from negative to positive) within the neuron's film potential caused by particles suddenly flowing in and out of the neuron.
In an intact brain, the adjust of hundreds of excitatory and inhibitory inputs to a neuron decides whether an activity potential will result.
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marci, a purchasing agent, orders 300 refrigerators per month from an online vendor portal. in doing so, she has made a(n) decision.
marci, a purchasing agent, orders 300 refrigerators per month from an online vendor portal. in doing so, she has made Operational decision.
operational judgments
Operational decisions, which typically have effects for no more than a year or even a day, are those that are altered more frequently in accordance with the current external and internal situations. The scale, complexity, and formulation of optimization models for operational decisions vary greatly as a result of the vast number of operations that make up the BSC. Operational choices related to biomass acquisition operations include logistics for carrying harvested biomass to storage, scheduling of working shifts, designating harvesting operation regions, and assigning personnel to harvesting machines. In terms of inventory management operations, it is necessary to regularly decide how much needs to be replenished from the upstream, delivered to the downstream, used to make biofuel goods, and stored in storage facilities.
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When performing a transitional attack, a _____ stream may be the best choice because it will not upset the thermal layering as much as other stream patterns.
When performing a transitional attack, a straight stream may be the best choice because it will not upset the thermal layering as much as other stream patterns.
This is further explained below.
What is a straight stream?Generally, a Direct stream is either water or fire ret/ard/ant that is discharged directly from the n/oz/zle (as opposed to a f/o/g or spray cone), and it is either delivered by a solid stream orifice or by changing a fog jet into a straight stream pattern.
In conclusion, A straight stream could be the greatest option for a transitional assault since it won't disrupt the thermal layering as much as other stream patterns.
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(01.08 hc) vaughn has just graduated college and is looking for a job in his new career field. in the meantime, he is working a part-time hourly wage job and wants to start saving for retirement. he expects that his income will grow significantly in the years to come. his bank asks whether he wants a pre-tax plan or a post-tax plan. which should he choose?
Vaughn should choose a pre-tax option since his top marginal tax rate is likely to decrease in the future given that he recently received his college diploma.
Which tax rate is the marginal rate?The marginal tax rate is the amount of tax that is added to taxable income for every additional dollar that is made. Progressive taxation refers to a federal taxation system. A progressive tax system means in that people with greater taxable incomes pay higher rates while those lower tax categories pay lower rates. For each tax category, a distinct tax rate is used in the approach. Previously, taxpayers were divided into seven different tax brackets and resided in four different families. As an individual's income moves up the tax bracket scale, the marginal tax rate system increases. It implies that lower marginal tax rates will apply to lesser taxable dollar earnings. Taxes are imposed at a higher rate as taxable income rises. Up until the last dollar is taxed at the highest marginal rate, the rate gradually rises.
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Allocating resources to customers at prices that will maximize revenue is called:_________
a. cost minimization
b. revenue management
c. sales force automation
d. labor planning
'Allocating resources to customers at prices that will maximize revenue is called sales force automation.
The basic definition of revenue is the total amount of money earned from a company's business, measured over a specified period of time. A company's turnover is its gross income before deducting expenses. Profit and total revenue define turnover. This is the monetary profit from the sale and/or services rendered.
When comparing income to revenue, it is important to know that "revenue" refers to the total amount of money a business generates before all expenses are deducted. "Income", on the other hand, is income minus the costs of doing business, such as depreciation, interest, taxes, and other expenses.
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in a hypothetical country, the population is expected to increase by 25% following recent legislation relaxing the barriers that restrict immigration. it is expected that the new immigrants will purchase the same goods and services as the current population does. if all other economic forces are held constant, how would this increase in population influence demand?
The increase in population would lead to a shift the demand curves for all goods and services to the right .
What is the effect of the increase in population?When there is an increase in population, there would be an increase in demand. An increase in demand occurs when other factors other than the price of a good leads to a change in demand.
Due to the population increase, there would be more people that would need to buy goods and services. Thus, there would be an increase in demand.
When there is an increase in demand, the demand curve would shift to the right or it would shift outward. The demand curve is a graph that shows the relationship between price and quantity demanded.
When there is a change in the price of the good, there would be a change in the quantity demanded and there would be a movement along the demand curve for the good.
Here are the options:
a movement downward along the demand curve
O shift the demand curves for all goods and services to the right
a movement upward along the demand curve
O shift the demand curves for all goods and services to the left
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Cost accounting logic can lead managers to keep their resources busy all the time, increasing productivity with no regard to demand. what is the negative result from this effect?
The negative result from this effect is purchases of surplus inventory.
Production must be done in accordance with the demand. Otherwise, there will be an increase in surplus inventory handling expenses and overproduction.
"Surplus inventory" refers to a situation where less inventory is consumed than what is stocked, which impacts the profit margin and locks up money that could have been better employed to offer other saleable products.
The internal management team of a corporation uses cost accounting to determine all variable and fixed expenses related to the production process. To help with measuring financial performance and making future business decisions, it will first measure and record each of these charges individually.
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