H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The company manufactures and markets food products throughout the world, including ketchup, condiments and sauces, frozen food, pet food, soups, and tuna. For the fiscal years 2005 and 2004, H.J. Heinz reported the following (in thousands): Year Ending April 27, 2005 April 28, 2004 Net sales $8,912,297 $8,414,538 Account receivable 1,092,394 1,093,155 Assume that the accounts receivable (in thousands) were $1,165,460 at the beginning of 2004. a. Compute the accounts receivable turnover for 2005 and 2004. b. Compute the days' sales in receivables at the end of 2005 and 2004.

H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The company manufactures and markets food products throughout the world, including ketchup, condiments and sauces, frozen food, pet food, soups, and tuna. For the fiscal years 2005 and 2004, H.J. Heinz reported the following (in thousands): Year Ending April 27, 2005 April 28, 2004 Net sales $8,912,297 $8,414,538 Account receivable 1,092,394 1,093,155 Assume that the accounts receivable (in thousands) were $1,165,460 at the beginning of 2004. a. Compute the accounts receivable turnover for 2005 and 2004. b. Compute the days' sales in receivables at the end of 2005 and 2004.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints

Section: Chapter Questions

Problem 7E: Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The...

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