Book: Sales Management: Shaping futuresales leaders, 2nd edition: by Tanner,Honeycutt, and Erffmeyer.ASSESSING THE PERFÓRMANCE OF THESALES FORCE AND THE PEOPLE WHOCOMPRISE ITQuestions and Problems8. If a salesperson received 32 purchaseorders during the month based upon 123sales calls, what is his order per call, or "closerate"?.

Close rate or order per call is the percentage amount of calls that has been able to turn into…

Answered: 8. If a salesperson received 32…

8. If a salesperson received 32 purchase orders during the month based upon 123 sales calls, what is his order per call, or "close rate"?.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 1. Prepare the expected cash collections during August. 2. Prepare the expected cash disbursements…

A: Cash budget :A cash budget is a financial tool used by businesses to forecast and manage their cash…

Q: How much is the average daily disbursement float? How much is the average daily collection float?…

A: The net float is calculated as difference in average daily disbursement float and average daily…

Q: You place an order for 250 units of inventory at a price of $130 per unit. The supplier offers terms…

A: Solution- (A) Days until Overdue=30 days Working notes- Offers term of 1/10, net 30, if we pay…

Q: Based on the following data for the current year, what is the number of days' sales in inventory…

A: Average Inventory = (Inventory, beginning of year + Inventory, end of year) / 2 Average Inventory =…

Q: Blackwell Co. has credit sales of $317,428, costs of goods sold of $151,217, and average accounts…

A: Days sales in outstanding is the number of days required to collect receivables from credit…

Q: A company reports the following: Cost of goods sold $4,788,800 Average inventory 292,000 Round…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (Beginning…

Q: Mentha Company currently has the following statistics: Days in inventory: 80 • Operating cycle: 148…

A: The operating cycle is a combination of days of inventory and days in account receivable. So the…

Q: 3) On December 1, Jonas Jewelry Wholesale Center started with an inventory of 1,000 watches.…

A: The following computations are done for Jonas Jewelry Wholesale Center.

Q: 7. Using the following table containing the dates of purchases and payments to determine the average…

A: A credit card is a way of obtaining short term finance by a consumer for fulfilling their purchase…

Q: Compute the accounts receivable turnover in days. fill in the blank 4 days 5. Compute the…

A: Accounts receivable turnover in days is the average number of days within which collection is…

Q: Use the following information to answer questions 1-3: January Cash Sales $40,000 Credit Sales…

A: To determine the balance on March 31, we need to calculate the total collections from January to…

Q: Mario’s Home System has sale of $2,820, costs of goods sold of $2,160, inventory of $504, and…

A: The term inventory refers to both raw materials used in manufacturing and completed goods that are…

Q: A credit card account had a balance of $959 on May 5. A purchase of $285 was made on May 17, and a…

A: Average daily balance is a accounting method that calculates interest charged by considering the…

Q: You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of…

A: 1/15, net 90 means if the amount due is paid within 15 days, the customer will get 1% discount,…

Q: The average collection period determines the number of a.days it takes to sell the inventory.…

A: Average collection period is the time taken by an entity to collect from its accounts receivables…

Q: Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest…

A: Workings:

Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…

A: Formula used: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: Mentha Company currently has the following statistics: . Days required to sell inventory: 80 Days…

A: The operating cycle of a company is the average time required for a business to make an initial…

Q: Fitbands’ estimated sales are: Oct. $131,989 Nov. 195,710 Dec. 249,288 Jan 124,318 Feb.…

A: Balances in accounts receivable = (Current month sales x 35%) + (Last month sales x 10%)

Q: Calculate the inventory-to-sale conversion period based on the following information: average…

A: Inventory-to-sale Conversion Period - This Ratios shows the amount of time required to sell the…

Q: Compute the following schedule of food sales by each meal period. If necessary, show the percentages…

A: Lets understand the basics. Management do various type of analysis of sales and cost in order to…

Q: Given the following information, calculate the operating cycle. Use average inventory and…

A: Operating cycle = DIO+DSOwhereDIO = days inventory outstandingDSO = days sales outstanding

Q: Required: 1. Prepare a schedule of expected cash collections for April, May, and June, and for the…

A: A cash Budget is a company's budget that shows an estimation of collections in cash i.e, cash…

Q: A company has an average age of inventory (AAI) 55 days; average collection period (ACP) 20 days and…

A: The number of days required from purchasing raw material till the goods are sold and cash is…

Q: Zips Corp reports the following: Net Credit Sales 100,000 A/R Jan 1 10,000 ADA Jan 1 1,000 A/R Dec…

A: Average collection period is calculated to estimate the average number of days between credit sale…

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% of may collections)+ (75% of June collections) Where, 25% of May collections…

Q: 10. On July 1 the Hat Rack started with an inventory of 370 hats. Shipments of 54, 67, and 52 were…

A: Total no. of hats shipped = 54+67+52 = 173 Total no. of hats received = 63+114+37 = 214

Q: Oman ceramics LLC has average inventory conversion period of 72 days, average payment period of 62.5…

A: The average collection period is the time taken by the business to receive the payments from its…

Q: Assume Shopping.com began July with 10 units of inventory that cost a total of $180. During July,…

A: LIFO method is one of the methods of inventory valuation in which it is assumed that recent or new…

Q: Based on the following data for the current year, what is the number of days' sales in inventory?…

A: Days sales inventory It is an estimation of the typical number of days or time expected for a…

Q: Cole's Cupcakes has sales of $2,910, costs of goods sold of $2,250, inventory of $522, and accounts…

A: Cost of Goods Sold = cogs = $2250Inventory = i = $522

Q: Conrad Company reported the following balances at June 30, 2015: $16,200 Sales Revenue Sales Returns…

A: The cost of goods available for sale is the cost that is incurred to produce the goods that are…

Q: Compute the days’ sales in inventory for International Paper and Walmart. Round to nearest day.…

A: Ratio analysis s helps to analyze the financial statements of the company. Management can make…

Q: A company reports the following: Cost of goods sold $3,960,250 Average inventory 255,500 Round…

A: Inventory Turnover = Cost of goods sold/ Average Inventory Number of days sales in Inventory =…

Q: Use the following transaction to answer the all of the questions. A company purchases inventory on…

A: Purchases Purchasing is the organised possession of goods or services on behalf of the buyer.…

Q: Suppose that your credit card activity for December looked like this: Date Activ December 5 $323…

A: Average daily balance is the weighted average daily balance based on the whole month of purchase and…

Q: 1. If 10 units are sold on August 24th, what is the total Cost of Merchandise Sold for the month…

A: 1. Cost of goods sold under LIFO method Sale units cost per unit cost of good sold =Sale…

Q: what is the number of days' sales in inventory

A: number of days' sales in inventory =(Ending Inventory/Cost of Goods Sold )X 365 days

Q: A company reports the following: Line Item Description Amount Cost of goods sold $2,007,500 Average…

A: Solution:a. Inventory turnover = Cost of good sold / Average inventory…

Q: Customer returns and allowances for department #620 came to $5,500. Gross sales in the department…

A: Net sales means the amount of revenue earned and it is calculated by deducting the sale return ,…

Q: McGarvey Manufacturing Company had the following 12 months of data on purchasing cost and number of…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: . Bulk Wholesalers took in $378,800 in sales during July. They started the month with inventory…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Question

Book: Sales Management: Shaping future
sales leaders, 2nd edition: by Tanner,
Honeycutt, and Erffmeyer.
ASSESSING THE PERFÓRMANCE OF THE
SALES FORCE AND THE PEOPLE WHO
COMPRISE IT
Questions and Problems
8. If a salesperson received 32 purchase
orders during the month based upon 123
sales calls, what is his order per call, or "close
rate"?.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction

VIEW

Step 2: Solution

VIEW

Step 3: Conclusion

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Huxley's Toy Store has $2,805 of inventory on hand at the beginning of the month. During the month, the company buys $20,860 of merchandise and sells merchandise that had cost $17,941. At the end of the month, how much inventory should be on hand?
The following information is available from the accounting records of Waxford Ltd.: 19-- January February March April Purchases R42 000 48 000 54 000 36 000 Purchases Total sales Administrative expenses Total sales R72 000 66 000 Twenty percent of sales are expected to be for cash. Collections from customers are normally 70% in the month of sale, 20% in the month following the month of sale, and 9% in the second month following the month of sale. Customers paying in the month of sale get a 5% discount. 78 000 60 000 The corporation pays its creditors in the month following the month of purchase, and qualifies for a 5% discount on all its purchases. Budgeted information for the months of May and June is as follows: May R45 000 72 000 14 500 June R42 000 70 000 16 600 Administrative expenses, which include depreciation of R600 per month, are payable in the month incurred. Rates for the year, amounting to R1 500, are included in the administrative expenses for June. The balance per cash…
Accounts Debit Credit Cash $24,300 Accounts Receivable 42,500 Allowance for Uncollectible Accounts $2,700 Inventory 42,000 Land 79,600 Accounts Payable 29,200 Notes Payable (8%, due in 3 years) 42,000 Common Stock 68,000 Retained Earnings 46,500 Totals $188,400 $188,400 The $42,000 beginning balance of inventory consists of 420 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions: January 3 Purchase 1,050 units for $115,500 on account ($110 each). January 8 Purchase 1,150 units for $132,250 on account ($115 each). January 12 Purchase 1,250 units for $150,000 on account ($120 each). January 15 Return 160 of the units purchased on January 12 because of defects. January 19 Sell 3,600 units on account for $576,000. The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Receive $529,000 from customers on accounts receivable. January 24 Pay $359,000 to inventory suppliers on accounts payable. January…
JC Penney has sales of $897,400, costs of goods sold of $628,300, inventory of $208,400, and accounts receivable of $74,100. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? 84.76 days 121.07 days 74.19 days 151.21 days 138.46 days
solve first
Dohini Manufacturing Company had the following 12 months of data on purchasing cost andnumber of purchase orders. Month Purchasing Cost Number of Purchase OrdersJanuary $18,860 370February 18,065 330March 19,250 370April 18,050 410May 19,345 400June 19,500 450July 19,670 460August 20,940 560September 19,430 440October 20,020 500November 18,800 470December 19,340…
Calculate average daily balance: (Round your answer to the nearest cent.) 29 Day Billing Cycle 9/6 Balance $600 9/18 Payment $200 9/24 Charge $300 Average daily balance
Medwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all customers take credit). What are the company’s average accounts receivable?
A company reports the following: Cost of merchandise sold $3,120,750Average merchandise inventory 182,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place.
The average daily balance of a credit card for the month of February was $1600$1600 and the unpaid balance at the end of the month was $900$900. If the annual percentage rate is 37.2%37.2% of the average daily balance, what is the total balance on the next billing date, March 1? Round your answer to the nearest cent.
The question that says “if the accounts payable turnover is 5.7, what is the days’ payable outstanding? ( round your answer to the nearest day.)
Use the following information to complete the calculations below. Cost of goods sold $195,640 Inventory: Beginning of year 20,500 End of year 18,628 a. Compute inventory turnover. b. Compute average daily cost of goods sold using a 365 day year. c. Compute number of days' sales in inventory. Round your answer to one decimal place. days