Jasper Furnishings has $300 million in sales. The company expects that its sales will increase 12% this year. Jasper's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows:
Inventories=$25+0.125(Sales).
Given the estimated sales forecast and the estimated relationship between inventories and sales, what are your forecasts of the company’s year-end inventory level and its inventory turnover ratio?
Answer:
Sales = $300,000,000
Sales Increase = 12%
Inventories = $25 + 0.125 (Sales)
Forecast sales = $300,000,000 * 1.12 = $336,000,000
As per equation inventory level = $25 + 0.125 (Sales)
= $25 + 0.125 ($336,000,000/1,000,000)
= $25 + $42
= $67 million
Inventory turnover ratio = Sales / Inventory
Inventory turnover ratio = $336,000,000/$67,000,000
Inventory turnover ratio = 5.014925373134328
Inventory turnover ratio = 5.015
What do you think is the most important skill a judge can possess
Answer:
The decision making skill because it's hard for a judge to make the right decision.
[The following information applies to the questions displayed below.]
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances:
Accounts Debits Credits
Cash $ 41,500
Accounts Receivable 25,700
Land 110,800
Accounts Payable 15,300
Notes Payable (due in 2 years) 30,000
Common Stock 100,000
Retained Earnings 32,700
Totals $ 178,000 $178,000
The following is a summary of the transactions for the year:
1. January 12 Provide services to customers on account, $62,400.
2. February 25 Provide services to customers for cash, $75,300.
3. March 19 Collect on accounts receivable, $45,700.
4. April 30 Issue shares of common stock in exchange for $30,000 cash.
5. June 16 Purchase supplies on account, $12,100.
6. July 7 Pay on accounts payable, $11,300.
7. September30 Pay salaries for employee work in the current year, $64,200.
8. November 22 Pay advertising for the current year, $22,500.
9. December 30 Pay $2,900 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,500 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,300.
Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Answer:
3.2 Million
Explanation:
state three essential characteristics of a good leaders
Answer:
The Characteristics & Qualities of a Good Leader
Integrity.
Ability to delegate.
Communication.
Self-awareness.
Gratitude.
Learning agility.
Influence.
Empathy.
Answer:
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You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X and Y. The weights of X and Y in P are 0.60 and 0.40, respectively. X has an expected rate of return of 0.14 and variance of 0.01, and Y has an expected rate of return of 0.10 and a variance of 0.0081. If you want to form a portfolio with an expected rate of return of 0.10, what percentages of your money must you invest in the T-bill, X, and Y, respectively if you keep X and Y in the same proportions to each other as in portfolio P
Answer:
% in T bills = 18.92%, % in P = 81.08%
Explanation:
Portfolio return = Weighted average return
Return of portfolio P = 0.14*0.6 + 0.10*0.4
Return of portfolio P = 0.124
Let % money in T bills be x
0.11 = 0.05*x + 0.124*(1-x)
0.11 = 0.05x + 0.124 - 0.124x
0.014 = 0.074x
x = 18.92%
Hence, % in T bills = 18.92%, % in P = 81.08%