FINANCIAL ACCT.FUND.(LOOSELEAF)
FINANCIAL ACCT.FUND.(LOOSELEAF)
7th Edition
ISBN: 9781260482867
Author: Wild
Publisher: MCG
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Chapter 7, Problem 16E
To determine

Accounts Receivable Turnover:

It refers to the ratio between net sales and average accounts receivable which determines the amount of net sales in multiple of average accounts receivable to ensure the quality of recovery and liquidity of accounts receivable.

Account receivable turnover from the given data for net sales and accounts receivables for year 2016 and 2017.

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During April, Harrison Manufacturing incurred the following costs on Job 210 for the manufacture of 250 engines:
Swinton Furnishings makes tables and planned to sell 3,800 tables in its master budget for the coming year. The budgeted selling price is $40 per table, variable costs are $20 per table, and budgeted fixed costs are $50,000 per month. At the end of the year, it was determined that Swinton actually sold 4,100 tables for $158,000. Total variable costs were $56,500 and fixed costs were $42,000. The volume variance for sales revenue was: A. $12,000 favorable B. $15,000 unfavorable C. $16,000 favorable D. $11,500 favorable
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Chapter 7 Solutions

FINANCIAL ACCT.FUND.(LOOSELEAF)

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