Chapter 3, Problem 3E

Can you solve this general accounting problem with appropriate steps and explanations?

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Determine the average number of days it takes Ron to collect it's accounts receivable.

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Please explain the solution to this financial accounting problem with accurate principles.

I am looking for the correct answer to this general accounting question with appropriate explanations.

Question: STL Corporation makes a product whose direct labor standard is 1.5 hours per unit and $12 per hour. In May, the company produced 6,000 units using 9,300 direct labor hours. The actual direct labor cost was $111,600. What is STL's labor rate variance for May?

Agni Corporation's net income for the year is $490,000. On June 30, a $0.75 per share cash dividend was declared for all common stockholders. Common stock in the amount of 40,000 shares was outstanding at the time. The market price of Agni's stock at year-end is $18 per share. Agni had a $1,200,000 credit balance in retained earnings at the beginning of the year. Required: Calculate the ending balance of retained earnings.

What must owners equity at the beginning of the year have been ??