PA 10-10 (Algo) A manufacturing company producing medical... A manufacturing company producing medical devices reported $50 million in sales over the last year. At the end of the same year, the company had $16 million worth of inventory of ready-to-ship devices. Assuming that units in inventory are valued (based on cost of goods sold) at $500 per unit and are sold for $2,000 per unit, what is the company's annual inventory turnover? Note: Round your answer to 1 decimal place.
Answers
Inventory turnover is a financial metric that measures how efficiently a company manages its inventory. The company's annual inventory turnover is 3.1 times.
Inventory turnover is a financial metric that measures how efficiently a company manages its inventory. It indicates the number of times inventory is sold and replaced over a given period. To calculate the inventory turnover, we divide the cost of goods sold (COGS) by the average inventory value. In this case, the company's sales were $50 million, and the value of inventory at the end of the year was $16 million.
Assuming the units in inventory are valued at $500 per unit, we can calculate the average inventory value by dividing the total inventory value by the number of units in inventory (16,000,000 / 500 = 32,000 units).
Next, we divide the COGS by the average inventory value (50,000,000 / 32,000 = 1,562.5) to determine the inventory turnover. Since the turnover is usually expressed as a ratio, we round the result to one decimal place. Therefore, the company's annual inventory turnover is 3.1 times.
This means that, on average, the company sells and replaces its inventory approximately 3.1 times during a year. A higher inventory turnover ratio generally indicates more efficient inventory management, as it implies that products are sold quickly and inventory is replenished promptly.
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Related Questions
The publisher of Celebrity Living claims that the mean sales for personality magazines that feature people such as Megan Fox or Jennifer Lawrence are 1.5 million copies per week. A sample of 10 comparable titles shows a mean weekly sales last week of 1.3 million copies with a standard deviation of 0.9 million copies.
Answers
Answer and Explanation:
The computation is shown below:
For determining each part first we have to do the following calculations
Critical value of t = 3.250
Null hypothesis = 1.5
Alternative hypothesis ≠ 1.5
Population mean \(\mu\) = 1.5
Sample mean \(\bar X\)= 1.30
Sample size \(n\) = 10.00
Sample standard deviation \(s\) = 0.900
Standard error of mean is
\(s_x = \frac{s}{\sqrt{n} }\)
\(= \frac{0.900}{\sqrt{10.00}}\)
= 0.2846
Test static is
\(t = \frac{x - \mu}{s_x}\)
\(= \frac{1.30 - 1.5}{0.2846}\)
= -0.703
a. The null hypothesis is
μ = 1.5
Alternate Hypothesis is
μ ≠ 1.5
b. reject \(H_o\) if t is not between
-3.250 and 3.250
c. The value of the test statistic is
t = -0.703
(as we have computed above)
d. fail to reject \(H_o\) as this data does not contradict the publisher claim
If a French citizen buys 100 shares of IBM stock on the New York Stock Exchange, the transaction will be recorded as (a) a surplus item in the capital account (b) a deficit item in the capital account (c) a surplus item in the current account (a) a deficit item in the current account (e) a decrease in France's GDP
Answers
When a French citizen buys 100 shares of IBM stock on the New York Stock Exchange, the transaction will be recorded as a deficit item in the current account of France's balance of payments, hence the correct answer is option D)
When a French citizen buys 100 shares of IBM stock on the New York Stock Exchange, the transaction will be recorded as a deficit item in the current account of France's balance of payments. The current account measures the inflow and outflow of goods, services, and investment income between a country and the rest of the world. In this case, the purchase of IBM stock represents an outflow of funds from France to the United States, which is a debit item in the current account. The transaction does not affect the capital account, which records flows of capital such as foreign direct investment and loans between countries. The purchase of stocks is not considered a capital flow, as it represents a transfer of ownership of existing assets rather than the creation of new capital. Finally, the purchase of IBM stock does not directly affect France's GDP. GDP is a measure of the value of all final goods and services produced within a country's borders, and the transaction does not involve any production or sale of goods or services within France's borders. However, the purchase of IBM stock could indirectly affect France's economy if it influences the French citizen's investment behavior or the stock market's performance.
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estion 1/5
Which of the following is NOT a benefit of using a
budget?
A budget can help you make plans to reach your
financial goals.
A budget can help you decide the importance of
your expenses.
A budget can help you purchase anything you want.
A budget can help you keep track of your money.
Answers
Answer:
Prepare a detailed business for financial viability study
Which component of table setting includes knives?
O A.
lunchware
OB.
flatware
O C.
steelware
OD.
dinnerware
O E.
drinkware
Answers
Answer:
Steelware I think
Explanation:
What should be included in your retirement plan?
A the amount of social security you expect to earn
B the amount of money you have in other accounts
C pension amounts from your former employers D all of the above
Answers
Answer:
A
Explanation:
because when you have social security then you are able to secure your money or pension
Answer:
A
Explanation:
because when security are around your money will safe
1. Mallory owns an auto repair shop. She has $12,000 in cash, $8,000 in
inventory, a $4,000 credit card balance, and $3,500 in long-term del
What is Mallory's equity?
a.
Answers
Mallory's equity, given that she owns auto repair shop and the amounts in her books, are $ 12, 500
How to find the equity ?As per the Accounting Equation, equity is the portion of assets that is not supplied by liabilities.
This means that Mallory's equity is:
= Cash + Inventory - Credit card balance - Long term debt
= 12, 000 + 8, 000 - 4, 000 - 3, 500
= $ 12, 500
In conclusion, Mallory's equity is $ 12, 500.
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Why is it important to conduct market research on your target audience before building your marketing plan
Answers
Compare and contrast three structures of tax system
Answers
The three structures of a tax system are progressive, regressive, and proportional. Each of these structures has different implications for how individuals and businesses are taxed.
Progressive taxes are those that increase in rate as income increases. This means that individuals with higher incomes pay a higher percentage of their income in taxes. Examples of progressive taxes include income taxes and estate taxes.
Regressive taxes, on the other hand, decrease in rate as income increases. This means that individuals with lower incomes pay a higher percentage of their income in taxes. Examples of regressive taxes include sales taxes and excise taxes.
Proportional taxes, also known as flat taxes, are those that remain the same regardless of income. This means that all individuals pay the same percentage of their income in taxes. Examples of proportional taxes include property taxes and some corporate taxes. Overall, the main difference between these three structures of the tax system is how they affect individuals with different levels of income. Progressive taxes tend to benefit those with lower incomes, while regressive taxes tend to benefit those with higher incomes. Proportional taxes, meanwhile, have the same impact on all individuals regardless of their income level.
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The most problematic sources are those that: A. Provide the least information about their author and original source of information B. Contain information that is biased C. Contain information only from secondary sources D. Provide one outlook on the information being presented
Answers
The most problematic sources are those that provide the least information about their author and original source of information. A material or device that emits radiation, whether ionising or non-ionizing, and that needs to be licensed by the Australian Radiation.
The protection and Nuclear Safety Authority is referred to as a problematic source. Investments, operations, and financing These three streams of business cash flow can significantly impact the development and viability of your organization. The sources of company finance include retained earnings, equity, term loans, debt, letters of credit, debentures, euro issuance, working capital loans, the venture capital investments, etc.
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Answer: I believe the answer is A.
Explanation: I really hope this helps and have a fabulous day!
Manufacturing costs, other than direct materials and direct labor, that cannot be cost-effectively traced to finished goods are called:
Answers
Manufacturing costs, other than direct materials and direct labor, that cannot be cost-effectively traced to finished goods are called overhead costs. Overhead cost is a term used to describe indirect manufacturing expenses that are not directly attributable to a product, a specific function, or a specific job. Overhead is also known as indirect expenses that are incurred in the production of goods and services but cannot be traced to a single product or activity. Indirect costs are divided into two categories: manufacturing overhead and non-manufacturing overhead costs.
Types of Manufacturing Overhead Costs: Indirect Labor Costs Indirect Material Costs Depreciation of Production Equipment Maintenance of Production Equipment Factory Rent Utilities for Factory Property Taxes on Production Facility Salaries for Factory Personnel Factory Supervision Cost of Factory Supplies and Consumables Property
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In the US economy, nearly half of all the workers employed by private firms work at 26,000 large firms that employ more than 300 workers 18,000 firms with fewer than 100 employees 18,000 large firms that employ more than 500 workers. 26,000 firms with fewer than 100 employees.
Answers
The US economy is heavily reliant on private firms, with almost half of all workers employed by these firms.
Interestingly, a large proportion of these workers are employed by just 26,000 large firms that have over 300 workers. Additionally, there are 18,000 firms that have fewer than 100 employees and 18,000 large firms that employ more than 500 workers. This indicates that while there are a few major players in the private sector, there is also a significant number of smaller firms that are contributing to the economy. It's important to note that these smaller firms also play a vital role in job creation and innovation, despite often being overshadowed by their larger counterparts. Overall, the US private sector is diverse and multifaceted, with a range of firms contributing to its overall success and growth.
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evaluating opportunities in international markets is uniquely challenging for managers because:group of answer choicesinternational variables are confusing and unfamiliar to outsiders.there are so many opportunities from which to choose.marketing in other countries is entirely different from marketing in a domestic setting.international consumers rarely share the same needs.other nations do not welcome foreign businesses.
Answers
Evaluating opportunities in international markets is a crucial task that is performed by managers. It is one of the most challenging tasks, and managers face several issues while doing so. These challenges are as follows:International variables are confusing and unfamiliar to outsiders:
There are numerous variables that are involved in international markets, including political, economic, cultural, and legal. These variables are very different from those of domestic markets. Moreover, the managers are not familiar with the international market variables, which makes it more difficult to evaluate the opportunities in the international market.There are so many opportunities from which to choose: The international market is vast, and there are numerous opportunities from which to choose.
The managers have to be very selective while choosing an opportunity for their organization.Marketing in other countries is entirely different from marketing in a domestic setting: The marketing strategies that work in the domestic market may not work in the international market. Therefore, the managers have to come up with new marketing strategies that are specific to the international market.International consumers rarely share the same needs: The needs and requirements of international consumers are very different from those of domestic consumers.
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_____ law defines the rights and duties of individuals and organizations (including businesses).
Answers
Civil law defines the rights and duties of individuals and organizations, including businesses.
Civil law is a legal framework that focuses on private disputes between individuals or organizations. It encompasses a wide range of areas such as contract law, property law, tort law, family law, and more. The purpose of civil law is to provide a framework for resolving conflicts and ensuring fairness in society.
In civil law, individuals and organizations have certain rights and responsibilities. These rights may include the right to own property, the right to enter into contracts, and the right to be free from harm. Duties, on the other hand, may include the duty to fulfill contractual obligations, the duty to respect the rights of others, and the duty to exercise reasonable care.
Civil law is based on legislation, codes, and statutes, which are enacted by the government or other governing bodies. Courts play a crucial role in interpreting and applying civil laws to specific cases.
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please respond to all parts of the question below, each with its own section. a. do you think businesses should voluntarily undertake environmental efforts, beyond those required by law? why or why not? b. describe the sustainability management practices of a business firm with which you are familiar. which stage of the corporate environmental responsibility model best fits this firm, and why? looking again at this same firm, what steps might its managers take to improve its environmental performance? in answering this question, consider the various elements of effective environmental management.
Answers
a. Yes, I think businesses should voluntarily undertake environmental efforts beyond those required by law. There are several reasons for this:
Environmental degradation can have negative impacts on businesses, including increased costs due to natural disasters or regulatory fines, as well as reputational damage from negative public perception. By proactively addressing environmental issues, businesses can mitigate these risks and potentially even benefit from improved reputation and customer loyalty.Some environmental efforts may also have financial benefits for businesses, such as reduced energy costs from energy efficiency measures or the ability to sell excess renewable energy back to the grid.Businesses have a responsibility to operate in a way that takes into account the well-being of society and the environment. By proactively addressing environmental issues, businesses can demonstrate their commitment to sustainability and their broader role in society.b. One business firm that I am familiar with that has strong sustainability management practices is Patagonia, an outdoor clothing and gear company. Patagonia has a comprehensive environmental policy that includes commitments to reducing the environmental impact of its products and operations, as well as advocating for environmental causes.
To improve its environmental performance, Patagonia's managers could consider implementing additional sustainability initiatives, such as increasing the use of recycled materials in its products, implementing water conservation measures in its manufacturing processes, or increasing the use of renewable energy in its operations. Other elements of effective environmental management that Patagonia's managers could consider include setting clear environmental goals and targets, engaging with stakeholders (including employees, customers, and suppliers) on environmental issues, and reporting transparently on the company's environmental performance.
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If the financial statements cannot be relied upon because they contain one or more material departures from gaap, which type of audit opinion will be issued by the auditor?.
Answers
The type of audit opinion that will be issued by the auditor is an adverse opinion.
A company or a business will usually issue financial statements in a certain period. This financial report is useful for knowing the transactions carried out within the company.
Of course, financial statements do not only dwell on financial records. There are many things you should know about financial statements. Such as understanding, benefits, examples, functions, to the income statement. Moreover, if you have a business, having financial statements is mandatory. Broadly speaking, financial statements are records of a company's transactions, both in-business transactions such as sales, or outside business transactions such as stock purchases, investments, and taxes.
This financial report is also very important to be arranged neatly so that investors or stakeholders can see that the business finances you are living are stable, well planned, and growing. Not only does it have an important role to get investors, but financial reports can also have other benefits in the business you are in.
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You have been asked to assist a retail company. It sells clothing and would like to have a Point of Sale computer installed to help with inventory control and to allow customers to check out faster.What peripheral will you recommend to them to help them keep track of inventory and check customers out faster? *
a) Barcode reader
b) Signature pad
c) Smart card reader
d) KVM
Answers
you are an administrative assistant in the purchasing department. Another administrative assistant is getting married in three weeks. Rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. you have not seen an official announcement, however, the assistant did tell you that she plans not to come back. What should you say to your two coworkers?
Answers
In this situation, You should tell your coworkers that you are unsure and that it is not yet official announced.
Co - workers.
Co workers refers a person with whom one works, typically someone in a similar role or at a similar level within an organization.
Given,
Here we have given that, you are an administrative assistant in the purchasing department. And another administrative assistant is getting married in three weeks. There is a rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. Now, you have not seen an official announcement, however, the assistant did tell you that she plans not to come back.
Here we need to find how you should handle this situation.
While we looking into the given question, we have identified the following,
There are 2 administrative assistant in your company.
One is you and another one is a girl and she get married in three weeks. And she also planned to resign after her marriage but this resignation is not officially confirmed.
So, in this situation, two of your peer interested for the position and asking you about the recruitment process.
Here you have to reply the co workers that the resignation is not conformed and if it is officially announced they you have the option to apply for that position.
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Mary Parker Follett felt that managers should act as ______ rather than dictators.
Answers
Facilitators
Best of luck in your studies! ☺️
When writing a check, you complete all of these steps except for _____.
signing the back of the check
writing the date
writing the amount in numbers
writing the amount in words
signing the front of the ch
Answers
Answer:
SIGNING THE BACK OF THE CHECK
Emotions such as relaxation, serenity, and calmness comprise the ____ mood dimension.
(a) low positive affect
(b) neutral affect
(c) low negative affect
(d) high positive affect
(e) high negative affect
Answers
The emotions given in the above case study provide the individual with low positive affect. These emotional intelligence will have a positive effect but at a low level because all of these will provide calmness to the brain and individuals.
Self-management, one of the four main components of emotional intelligence, includes managing emotions. The four main facets or components of emotional intelligence are self-awareness, social awareness, self-management, and social skill. Motivation, self-control, and empathy are some further characteristics of emotional intelligence. Emotional regulation, or self management, entails maintaining control over mood swings under challenging circumstances.
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In Livestock Judging Terms. What does Proportionate mean?
please answer asap
Answers
In Livestock Judging Terms. The Proportionate mean-
Simply subtract the cut value associated with that particular pair from the 50 points possible for the class. For example, if the official placing is 1-2-3-4 with cuts of 2-5-3 (1225334) and the contestant placing is 2-1-3-4, the score equals 48.
Each choose's scores are standardized by way of scaling them to have a median of zero and a general Judging of one. To achieve this, the average score is subtracted from the raw score and then divided by using the usual deviation.
The usage of the handiest technique of scoring: whilst more than 3 Judging are used, the highest and the lowest scores offered are dropped and the uncooked score is determined through the last 3 awards. This identical manner of figuring out the uncooked score can be used for a seven or 9 member judging panel.
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Coffee is weighted more than tea in the calculation of the CPI if?
A. coffee is more accessible to the typical consumer.
B. it costs more to produce coffee than it costs to produce tea.
C. consumers buy more coffee than tea. D. the price of coffee is greater than the price of tea.
Answers
Coffee is weighted more than tea in the calculation of the CPI if consumers buy more coffee than tea. Weights in the CPI are determined by the importance of the good to the consumer. Thus, the correct answer is option C.
What is CPI?A consumer price index is a price index that measures the cost of a weighted average market basket of consumer goods and services bought by households. Changes in the measured CPI reflect price changes over time.
A CPI is a statistical estimate based on the prices of a representative sample of items whose prices are collected on a regular basis. If consumers buy more coffee than tea, coffee is weighted higher in the CPI calculation. The importance of the good to the consumer determines the weights in the CPI.
Therefore, option C is correct.
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Zelda’s day consists of checking her e-mail, holding meetings, and organizing and reviewing text. Which Arts, A/V Technology, and Communication career pathway is Zelda working in?
Answers
Answer:
The correct answer will be "Printing technology".
Explanation:
Printing technology has become a course of study which always entails comprehensive evaluation as well as operator of email messages, as well as editing manuscripts to ensure that the interests of customers.A profession where certain you accomplish or conduct for something and communicate with other people.A real estate broker has a computerized loan origination (CLO) terminal in her office. Because there are more than a dozen lending institutions in the city, the broker has found that the CLO greatly streamlines the application process for her clients. She sits down at the terminal with a homebuyer and these three events take place:
1. The broker explains that there is a fee for using the terminal of one-half point, based on the loan amount, and that the homebuyer may choose to finance the fee.
2. The broker explains only the different kinds of services offered by the two local lenders who pay her a monthly screen fee to be included on the CLO system.
3. The broker helps the homeowner answer the on-screen qualification questions.
Which of these events is an improper use of a CLO system?
a. 1 only
b. 2 only
c. 2 and 3
d. 1
Answers
Answer:
d because d is the best answe
In 2016 based on people ages 15-74 the Swedish adult non-institutionalized population was about 7. 3 million, the labor force was 5. 2 million, and the number of people employed was 4. 8 million. According to these numbers, the Swedish labor force participation rate and unemployment rate were about
a. 71. 2% and 7. 7%
b. 71. 2% and 5. 5%
c. 65. 8% and 7. 7%
d. 65. 8% and 5. 5%
Answers
According to these numbers, the Swedish labor force participation rate and unemployment rate were about option a: 71.2% and 7.7%.
To calculate the labor force participation rate and unemployment rate, we need to use the following formulas:
Labor Force Participation Rate = (Labor Force / Adult Non-Institutionalized Population) * 100
Unemployment Rate = (Unemployed / Labor Force) * 100
Given the information provided:
Adult Non-Institutionalized Population = 7.3 million
Labor Force = 5.2 million
Number of People Employed = 4.8 million
Using the formulas above, we can calculate the rates:
Labor Force Participation Rate = (5.2 million / 7.3 million) * 100 = 71.23%
To calculate the number of unemployed people, we subtract the number of employed people from the labor force:
Unemployed = Labor Force - Number of People Employed
Unemployed = 5.2 million - 4.8 million = 0.4 million
Unemployment Rate = (0.4 million / 5.2 million) * 100 = 7.69%
Rounding these values to one decimal place, we find that the labor force participation rate is approximately 71.2% and the unemployment rate is approximately 7.7%.
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5. Which of the following statements is true about credits?
a) Credits show an increase in what a company owns or a decrease in what it owes.
b) A credit to an asset account shows a decrease.
c) A credit to a liability account shows an increase.
d) Credits show a decrease in what a company owns or an increase in what it owes.
Answers
c) A credit to a liability account shows an increase.
One disadvantage of advertising is that it Question 19 options: A) provides entertainment. B) encourages impulse buying. C) stimulates competition. D) saves time.
Answers
Answer:
encourages impulse buying
Answer:
b Encourages impulse buying
Explanation:
advertisements are to catch the peoples eyes and make the consumer think they really need that item
John is putting together an employee handbook. One thing John should NOT include in the handbook is A paragraph that tell employees that as long as performance is satisfactory, they will be retained. A chapter on the history of the company. The work rules of the company. The appeals process for a disciplinary infraction. How to accrue vacation time.
Answers
The answer is a paragraph that tell employees that as long as performance is satisfactory, they will be retained.
What is 's balance of accounts receivable at , ? start by selecting the labels and then enter the amounts to calculate the balance in accounts receivable at ,
Answers
Start by selecting the labels and then enter the amounts to calculate the balance in accounts receivable at 30,000.00.
Date ACCOUNT TITLES AND EXPLANATIONS DEBIT ($) CREDIT ($)
29-Feb-16 Bad Debts Expense 2,400.00
Accounts Receivable 2,400.00
(Write off an uncollectible account)
Requirement 2
Accounts Receivable
$ $
Balance b/d 14,000.00 17,000.00 Collected
Revenue 16,000.00 2,400.00 Wrote off
10,600.00 Balance c/d
30,000.00 30,000.00.
Accounts receivable is the amount a customer owes your business for the products or services they bill you for. The total value of all accounts receivable is recorded as a current asset on the balance sheet and includes invoices for items or work performed on credit to customers.
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HELP PLEASE
Q1 How would you describe Snap-On Tools' competitive strategy? Does it fit a price or non price model? Explain (4)
q2 How are the free enterprise " freedoms" of ownership and profit depicted in this scenario on Snap- On Tools? (4)
Q3 Is there any risk for the franshised dealers who purchase the truck, tools and equipment from Snap- On? ( 2)
Answers
Answer:
Q1. Non price model
Q2. How free enterprise "freedom" of ownership and profit are demonstrated includes
1) Snap-on tools ability to make and sell their tools for profit
2) Snap-on tools ability to sell out of mobile trucks, rather than store
3) Snap-On tool is able to offer credit financing to the its customers
Q3 The risks are,
a) Damage to reputation
b) Joint liability
c) Compliance to commercial regulations
Explanation:
A non-price competition is a form of marketing strategy, whereby a company or establishment puts in place distinguishing factors in its goods and or services, in order to distinguish them from competing goods or services.