Question
In: Accounting
Suppose at December 31 of a recent year, the following information (in thousands) was available for...
Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $175,000; beginning inventory $119,000; cost of goods sold $414,540 and sales revenue $773,000.
Calculate the inventory turnover for Oakley, Inc.
(Round inventory turnover to 2 decimal places, e.g.
5.12.)
Calculate the days in inventory for Oakley, Inc.
(Round days in inventory to 0 decimal places, e.g.
125.)
Solutions
Expert Solution
The answer ahs been presented in the supporting sheet. For detailed answer refer to the supporting sheet. For detailed answer refer to the supporting sheet.
ekkarill92 answered 2 years agoRelated Solutions
Suppose at December 31 of a recent year, the following information (in thousands) was available for...
Suppose at December 31 of a recent year, the following
information (in thousands) was available for sunglasses
manufacturer Oakley Inc.: ending inventory
$153,357; beginning inventory $122,003; cost of goods sold $350,824
and sales revenue $820,884.
Calculate the inventory turnover for Oakley, Inc.
(Round inventory turnover to 2 decimal places, e.g.
5.12.)
Inventory turnover =
Calculate the days in inventory for Oakley, Inc.
(Round days in inventory to 0 decimal places, e.g.
125.)
Days in inventory =
The following financial information is available for Longmire Lumber Ltd. as at December 31 (in thousands,...
The following financial information is available for Longmire
Lumber Ltd. as at December 31 (in thousands, except for per share
amounts):
2021
2020
2019
Profit
$1,978
$2,131
$2,663
Preferred share dividends (total)
$73
$43
$30
Weighted average number of common shares
502
500
501
Dividends per common share
$2.50
$2.25
$2.10
Market price per common share
$43.00
$49.75
$56.25
(a)
Calculate the earnings per share, price-earnings ratio, and payout
ratio for the common shareholders for each of the three years....
The following information is available for the Mercy Hospital: For year ending December 31 2019 December...
The following information is available for the Mercy
Hospital:
For year ending
December 31
2019
December 31, 2018
Revenue
Net Patient Revenue
$14,500,000.00
$3,165,000.00
Operating Expenses
Medical/surgical
$1,500,000.00
$1,000,000.00
Wages
$1,200,000.00
$ 500,000.00
Purchasing
$ 350,000.00
$ 120,000.00
Pharmacy
$1,650,000.00
$1,250,000.00
Professional Fees
$3,400,000.00
$2,650,000.00
Interest
$ 750,000.00
$ 525,000.00
Revenue in Excess of Expense/(Loss)
??????
??????
Analyze this statement of operations and write a
paragraph on what you perceive to be the strengths and weaknesses
of Mercy Hospital. There...
Following is financial information for NetFlix, Inc., for the year ended December 31, 2016 (in thousands)....
Following is financial information for NetFlix, Inc., for the
year ended December 31, 2016 (in thousands). Use the parsimonious
method of forecasting to project net operating
profit after tax (NOPAT) and net operating assets (NOA) for 2017
through 2020, inclusive.
Sales
$ 8,830,669
Net operating profit after tax (NOPAT)
261,828
Operating assets
11,852,828
Operating liabilities
7,542,499
Assume that net operating profit margin (NOPM) and net operating
asset turnover (NOAT) will remain at 2016 levels. Assume that sales
will grow at...
1a). The following information is available for the year ended December 31: The amount of raw...
1a). The following information is available for the year
ended December 31: The amount of raw materials used in production
for the year is:
a. $4,100.
b. $5,100.
c. $3,500.
d. $6,500.
e. $4,000
1.b) Bard Manufacturing uses a job order cost accounting
system. During one month Bard purchased $198,000 of raw materials
on credit; issued materials to production of $195,000 of which
$30,000 were indirect. Bard incurred a factory payroll of $150,000,
paid in cash, of which $40,000 is...
The following information is available for Gulf Corp. on December 31 for the year just ended....
The following information is available for Gulf Corp. on
December 31 for the year just ended.
The estimated yearly depreciation on the building is $950.
This year's advertising bill for $12,000 is unrecorded and
unpaid.
Unpaid and unrecorded salaries at year-end totalled
$47,500.
The estimated yearly depreciation on the furniture is
$900.
$600 of property taxes have accrued and are unrecorded.
A review of the $4,400 unadjusted balance in the supplies
account shows a balance on hand at the end...
The following information is available for United Corporation on December 31 for the year just ended....
The following information is available for United Corporation on
December 31 for the year just ended.
A review of the $12,000 unadjusted balance in the prepaid rent
account shows a remaining balance of $8,750 at the end of the
year.
$2,200 of the television advertising paid for in advance has
been used.
The yearly depreciation on the building is $150.
The yearly depreciation on the equipment is $800.
$1,200 of the advertising paid for in advance has been
published by...
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning...
The following information is available for Barnes Company for
the fiscal year ended December 31:
Beginning finished goods inventory in units
0
Units produced
5,000
Units sold
4,100
Sales
$
984,000
Materials cost
$
100,000
Variable conversion cost used
$
50,000
Fixed manufacturing cost
$
100,000
Indirect operating costs (fixed)
$
80,500
The variable costing operating income is: ?
The following information is available for Ivanhoe Company for the year ended December 31, 2017. Beginning...
The following information is available for Ivanhoe Company for
the year ended December 31, 2017.
Beginning cash balance $ 49,635
Accounts payable decrease 4,081
Depreciation expense 178,686
Accounts receivable increase 9,045
Inventory increase 12,133
Net income 313,362
Cash received for sale of land at book value 38,605
Cash dividends paid 13,236
Income taxes payable increase 5,184
Cash used to purchase building 318,767
Cash used to purchase treasury stock 28,678
Cash received from issuing bonds 220,600
Prepare a statement of cash...
The following inventory information is available for Muscat Manufacturing Corporation for the year ended December 31,...
The following inventory information is available for Muscat
Manufacturing Corporation for the year ended December 31,
2018:
Beginning
Ending
Inventories:
Raw
materials
$68,000
$76,000
Work in
process
36,000
56,000
Finished
goods
44,000
32,000
Total $148,000
$164,000
In addition, the following transactions occurred in 2018:
1. Raw materials purchased
on account, $280,000.
2. Incurred factory labor,
$320,000, all is direct labor. (Credit Factory Wages Payable).
3. Incurred the following
overhead costs during the year:...
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