Target Corporation reported the following information in a recent Form 10-K. Consolidated Statement of Operations ($ millions) FY 2016 Cost of sales $67,596 Consolidated Statement of Financial Position ($ millions) FY 2016 FY 2015 Inventory $10,321 $8,282
What is the (a) inventory turnover ratio, and (b) average days in inventory, for the fiscal year ended January 30, 2016?

Answers

Answer 1

Answer: See explanation

Explanation:

a. inventory turnover ratio

This will be calculated as:

= Sales cost / Average inventory

= $67,596 / $9301.50

= 7.2672

= 7.27

(b) average days in inventory.

This will be calculated as:

= 365 days / Inventory turnover ratio

= 365 / 7.27

= 50.20

= 50 days

Note:

Average inventory = ($10,321 + $8,282) / 2 = $9301.50


Related Questions

On December 31, 2019, Coolwear, Inc. had a balance in its supplies account of $48,400. During 2020, $86,000 was paid for new supplies. At the end of 2020, after adjusting entries were recorded, the balance in the supplies account was 42,000. Supplies expense for 2020 would be:_________

Answers

Answer:

$92,400

Explanation:

Supplies expense for 2020 would be calculated as;

= Ending balance in supplies account on December 31, 2019 + Payment for new supplies in 2020 - Balance in supplies account at the end of year 2020

Given that ;

Ending balance in supplies account = $48,400

Payment for new supplies = $86,000

Balance in supplies account at the end of year 2020 = $42,000

Therefore,

Supplies expense for 2020

= $48,400 + $86,000 - $42,000

= $92,400

Mark, a project manager for a bottling company, has a $500,000 budget. As of today's date, $100,000 has been spent on the project. What is the project's actual cost?
a. $500,000
b. $400,000
c. $250,000
d. $100,000

Answers

B. 400,000

Because you do 500,000 minus 100,000 to get the answer and which the answers is 400,000
So the project actual cost 400,000

A coupon bond that pays interest of $60 annually has a par value of $1,000, matures in 5 years, and is selling today at a $75.25 premium from par value. The current yield on this bond is _________.

a. 6%
b. 6.49%
c. 6.73%
d. 7%

Answers

Answer:

b. 6.49%

Explanation:

Calculation for The current yield on this bond

First step is to calculate the Current price

Current price = $1,000 - 75.25

Current price = $924.75

Now let calculate the Current yield using this formula

Current yield =Coupon bond interest/Current price

Let plug in the formula

Current yield = $60/$924.75

Current yield = 6.49%

Therefore the current yield on this bond is 6.49%

The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is:______

Answers

Answer:

the price elasticity of demand is 1

Explanation:

The price elasticity of the demand using mid point formula is as follows:

Price elasticity of the demand is

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 36 - 30

= 6

And, average of quantity demanded is

= (36 + 30) ÷ 2

= 33

Change in price is

= P2 - P1

= $12 - $10

= $2

And, the average of price is

= ($12 + $10) ÷ 2

= 11

So, the price elasticity of demand is 1

How do the entry and exit of firms in a purely competitive industry affect resource flows and long-run profits and losses?

Answers

Answer:

The fact that in a purely competitive industry there are neither barriers to entry nor barriers to exit is what makes economic profit, in this type of industry, impossible in the long-run.

This is because when there is economic profit in the industry, firms are lured to enter, saturating the market, and lowering economic profit to zero in the process. When this happens, some firms opt out of the industry, bringing economic profit back to positive territory, causing the cycle to repeat itself.

The waiter told Janis that the cake has fewer carbohydrates (carbs) than the pie, and that the pudding has more carbs than the pie. What relational responses are combinatorially entailed and likely to be reinforced in this context?

Answers

Answer:

The waiter told Janis that the cake has fewer carbs than the pie, and that the pie has fewer carbs than the pudding. Janis can associate both messages and infer that the cake has fewer carbohydrates than the pudding without the waiter explicitly telling her that.

A (cake) < B (pie)

B < C (pudding)

therefore,

A < C

Beacon Industries,Inc. thinking about having one of its products manufactured by a subcontractor.Currently , the cost of manufacturing 1,000 units follows :

Direct material $45,000
Direct labor 30,000
Factory overhead (30 % is variable ) 98,000

If Beacon can buy 1,000 units from a subcontractor for $ 100,000 , it should:_______

Answers

Answer:

It is cheaper to buy the product.

Explanation:

Giving the following information:

Production:

Direct material $45,000

Direct labor 30,000

Factory overhead (30 % is variable ) 98,000

Buy:

Total cost= $100,000

I will assume that none of the fixed overhead avoidable. Therefore, we will take into account only the variable overhead.

Total variable production cost= 45,000 + 30,000 + (98,000*0.3)

Total variable production cost= $104,400

It is cheaper to buy the product.

Students who choose to attend graduate or medical school are often rewarded with higher wages because they have acquired more:__________.
a. debt than other students.
b. human capital.
c. union rights.
d. physical capital.

Answers

Answer:

B

Explanation:

Human capital can be described as the skill sets, knowledge or skills that an individual possesses.

Students who attend graduate or medical school acquire more human capital than those who didn't and as a result are paid higher wages.

According to the liquidity preference model, if the Federal Reserve increases the money supply, the equilibrium interest rate ________, and this leads to _________ in the quantity demanded of nonmonetary interest-bearing financial assets.
a) falls; an increase.b) falls; a decrease.c) rises; an increase.d) rises; a decrease.

Answers

Answer:

b) falls; a decrease

Explanation:

According to the liquidity preference model, if the Federal Reserve increases the money supply, the equilibrium interest rate falls and this leads to a decrease in the quantity demanded of non-monetary interest-bearing financial assets.

Liquidity preference model which is also the Keynesian theory of money demand, says that people need money for three major objective transaction motive, precautionary motive, and speculative motive.  The increase in money supply decreases interest rate and increases the quantity of money demanded and the decreases the quantity demanded of non-monetary interest-bearing financial assets.

ou have $425 today which is enough to buy 17 shirts. If the price of shirts are expected to increase by 2% over the next year, what (precise) nominal rate would you have to earn to be able to buy 20 shirts next year

Answers

Answer:

the nominal rate is 19.65%

Explanation:

The computation of the nominal rate earned is shown below;

The Price of 17 shirts today is $425

Now the price for 20 shirts today is

= $425 × 20 ÷ 17

= $500

Now the real rate needed next year is

= $500 ÷ $425  - 1

= 17.65%

Now the nominal rate needed is

= real rate + inflation rate

= 17.65% + 2%

= 19.65%

Hence, the nominal rate is 19.65%

Which of the following are established by ASC 280 as "enterprisewide disclosure" standards to provide more information about the risks to a company?
I. Information about dominant industry segments.
II. Information about major customers.
III. Information about geographic areas.
A. Both II and III
B. I, II, and III
C. Both I and II
D. Both I and III

Answers

Answer:

A. Both II and III

Explanation:

As the major customers information and the geographic areas information would be created by the ASC 280 as disclosure of enterprise wide standard that provide the information more related to the company risk. Also it is needed to the public entities to disclose the information with respect to the operating segments i.e. reportable in the finished financial statements set

Therefore the correct option is A.

If a company sells its average quantity of goods in inventory every 14.6 days, its inventory turn ratio is:

Answers

Answer:

the  inventory turnover ratio is 25 times

Explanation:

The computation of the inventory turnover ratio is shown below:

As we know that

Inventory turnover period = 365 ÷ inventory turnover ratio

So, the inventory turnover ratio is

= 365  days ÷ 14.6 days

= 25 times

Hence, the  inventory turnover ratio is 25 times

We simply applied the above formula so that the correct value could come

And, the same is to be considered

The inventory turnover ratio would be 25 times

We know that inventory turnover period is computed as;

Inventory turnover period = 365 ÷ inventory turnover ratio

Therefore,

The inventory turnover ratio  

= 365  days ÷ 14.6 days

= 25 times

It therefore means that If a company sells its average quantity of goods in inventory every 14.6 days, its inventory turn ratio is 25 times

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When Mia and Shane are planning their honeymoon, their travel agent tells them that if they buy a special package, their trip to Paris will include meals, tickets to the theater, and a rental car in addition to airfare and a hotel. This is an example of the use of
A) multiple-unit pricing.
B) bundle pricing.
C) prestige pricing.
D) price lining.
E) price packaging.

Answers

Answer: bundle Pricing

Explanation:

Bundle Pricing is a strategy that is used by companies whereby several products are all packages together for a lower price.

Here, we are informed that the special package for their trip to Paris will include meals, tickets to the theater, and a rental car in addition to airfare and a hotel. This is an example of bundle Pricing as the company can sell different products together at once.

Your client wants to transfer $500 from their checking account into a savings account to cover tax liabilities for sales made that month.
Where should they start the process?
a) Navigate to the + New button then find the Transfer link
b) Navigate to the Gear Icon then find the Transfer link
c) Navigate to the Sales screen then find the Transfer link
d) Navigate to the Banking screen then find the Transfer link

Answers

Answer:

a) Navigate to the + New button then find the Transfer link

Explanation:

In the case when the client wants to transfer $500 from the checking to the saving account so that the liabilities of the tax could be covered. Now the process would be started via navigating it to the new button and then find the transfer link

Therefore the correct option is a

Hence, the rest of the options are incorrect

Consider an asset with a beta of 1.2, a risk-free rate of 4.4%, and a market return of 12.4%. What is the reward to risk ratio?

Answers

Answer: 8%

Explanation:

Reward to risk ratio = (Expected return - Risk free rate) / Beta

Expected return = Risk free rate + Beta * ( Market return - Risk free rate)

= 4.4% + 1.2 * (12.4% - 4.4%)

= 14%

Reward to risk ratio = (14% - 4.4%) / 1.2

= 8%

When people are differentiated in terms of their aesthetic and intellectual preferences, a ________ concept is being applied.
A) cultural code designation
B) social cluster
C) taste culture
D) consumption constellation

Answers

Answer: C) taste culture

Explanation:

Taste culture refers to the preferences that person holds that are based on intellectual and aesthetic values that are dear to them. Essentially, it refers to people's tastes.

An example would be the tendency of young people to wear fashionable clothing. When people are grouped according to these aesthetic or intellectual preferences, they are being grouped by taste culture.

Suppose Rhonda owns and operates a surf shop. Last week, Rhonda ran a 30-percent off sale on all items in her shop and her revenues decreased by 35 percent. Everything else held constant, it can be concluded with certainty that Rhonda's customers' demand is:________.
A. price inelastic
B. price elastic
C. unit elastic

Answers

Answer:

Explanation:

price elasticity of demand = percentage change in quantity demanded / percentage change in price

revenue = price x quantity

if price decreased by 30% and total revenue decreased by 35%, then PED is inelastic

a will show you in an example

original price = $10

original quantity = 100

if PED was unit elastic

= 30% / -30% = -1, sales volume increased by 30%

total revenue went form $1,000 to $910

if PED was elastic

= 50% / -30% = -1.7, sales volume increased by more than 30%, lets say 50%

total revenue went from $1,000 to $1,050

if PEd was inelastic

= 10% / -30% = -0.33, sales volume increased by less that 30%, lets say 10%

total revenue went from $1,000 to $770

the more inelastic, the larger the decrease in total revenue

The demand of Rhonda's customers would be characterized as:

A). Price Inelastic

"Price Inelastic demand" is described as the demand in which the demand remains a little affected by a bigger change in the price of that product or commodity. In the given situation, the demand for the surf at Rhonda's shop would be considered price inelastic because, despite the 30% off, the revenue of her shop decreased. This implies that the surf exemplifies an essential item and its consumers are not much affected by the fall in the price.

Thus, option A is the correct answer.

Learn more about "Elasticity of Demand" here:

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Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? To what extent should accountants be involved in producing reports that include more than just financial measures of performance? Why?

Answers

Answer:

If this advice was followed, two systems would result which means higher costs. Accountants must be aware of what is happening in the organization in order to perform correctly. This doesn't mean that only accountants should be involved, but you cannot exclude them.

Accountants are trained in systems development and they should be able to produce reliable information. In order for information to be useful, it must be reliable and relevant. If accountants do not participate in the development of a company's system, then the quality of the information will decrease. Non-reliable information is not useful.

About the Lagrangian method, select the correct statement: We can use it to solve consumer's utility maximization problems, but not firm's cost minimization problems. We can use it to solve both consumer's utility maximization and firm's cost minimization problems. We can use it to solve firm's cost minimization problems, but not consumer's utility maximization problems. We cannot use it to solve any kind of optimization problem.

Answers

Answer:

About the Lagrangian method,

We can use it to solve both consumer's utility maximization and firm's cost minimization problems.

Explanation:

Lagrangian method is a mathematical strategy for finding the maxima and the minima of a function subject to equality constraints.  Equality constraints mean that one or more equations have to be satisfied exactly by the chosen values of the variables.  Named after the mathematician, Joseph-Louis Lagrange, the basic idea behind the Lagrangian method is to convert a constrained problem into a Lagrangian function.

Boston Company sells thirty items for $800 per unit and has a cost of goods sold per unit of $480. The gross profit to be reported for selling 30 items is:_____________A) $320.B) $9,600.C) $14,400.D) $24,000.

Answers

the answer for this would be A

Suppose ABC Bank offers to lend you $1,000 at a nominal rate of 8%, compounded monthly. The loan (principal plus interest) must be repaid at the end of the year. Bank XYZ also offers to lend you the $1,000, but it will charge 9%, with interest due at the end of the year. What is the difference in the effective annual rates charged by the two banks?

Answers

Answer:

The difference in the effective annual rates charged by the two banks is:

0.7%.

Explanation:

a) Data and Calculations:

ABC Bank lending = $1,000

Rate of interest = 8% compounded monthly

Effective monthly rate of interest = 8%/12 = 0.667

FV (Future Value) $1,083.00

PV (Present Value) $1,000.00

N (Number of Periods) 12.000

I/Y (Interest Rate) 0.667%

PMT (Periodic Payment) $0.00

Starting Investment $1,000.00

Total Principal $1,000.00

Total Interest $83.00

Effective annual interest rate = $83/$1,000 * 100 = 8.3%

Bank XYZ lending = $1,000

Rate of interest = 9% annually

FV (Future Value) $1,090.00

PV (Present Value) $1,000.00

N (Number of Periods) 1.000

I/Y (Interest Rate) 9.000%

PMT (Periodic Payment) $0.00

Starting Investment $1,000.00

Total Principal $1,000.00

Total Interest $90.00

Effective annual interest = 9%

Difference in rates = 9% - 8.3% = 0.7%

b) Bank XYZ charges more interest by 0.7% thank ABC Bank.

A total of $8000 is invested: part at 6% and the remainder at 11%. How much is invested at each rate if the annual interest is $500?

Answers

Answer: See explanation

Explanation:

Based on the scenario in the question, our calculation goes thus:

0.11x + 0.06(8000 - x) = 500

0.11x + 480 - 0.06x = 500

0.11x - 0.06x = 500 - 480

0.05x = 20

x = 20/0.05

x = 400

$400 was invested at 11%

Also, 8000 - 400 = 7600 invested at 6%

Answer: Based on the scenario in the question, our calculation goes thus:0.11x + 0.06(8000 - x) = 5000.11x + 480 - 0.06x = 5000.11x - 0.06x = 500 - 4800.05x = 20x = 20/0.05x = 400$400 was invested at 11%Also, 8000 - 400 = 7600 invested at 6%

Explanation:

A good or service intended primarily for use in producing other goods or services is a ____ product.

Answers

The answer is: BUSINESS.

You want to buy a new sports coupe for $92,500, and the finance office at the dealership has quoted you an APR of 74 percent for a 60 month loan to buy the car
a. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
b. What is the effective annual rate on this loan? (Do not round intermediate celculations. Enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.)
a. Monthly payment
b. Effective annual rate

Answers

Answer:

a) we must first determine the effective interest rate

effective monthly interest rate = APR / 12 = 7.4% / 12 = 0.617%

monthly payment = present value x annuity factor

present value = $92,500

PV annuity factor, 0.617%, 60 periods = 50.024

monthly payment = $92,500 / 50.024 = $1,849.12

b) effective annual rate = (1 + 7.4%/12)¹² - 1 =  0.076562 = 7.66%

The Dennis Company reported net income of $50,000 on sales of $300,000. The company has average total assets of $500,000 and average total liabilities of $100,000. What is the company's return on equity ratio?
A) 10.0%.B) 16.7%.C) 12.5%.D) 50.0%.

Answers

Answer:

C) 12.5%

Explanation:

The computation of the return on equity is shown below

Return on equity is

= net income ÷ equity

where,

equity is

= Total assets - total liabilities

= $500,000 - $100,000

= $400,000

Now the return on equity is

= $50,000 ÷ $400,000

= 12.50%

Hence, the return on equity is 12.50%

Therefore the corredct option is c.

Assume a company has two divisions, A and B. The company’s overall sales, overall contribution margin ratio, common fixed expenses, and net operating income are $500,000, 48%, $50,000, and $10,000, respectively. Division A has a contribution margin of $180,000. If Division B has traceable fixed expenses of $80,000, then what is Division A’s segment margin? Multiple Choice $80,000 $40,000 $20,000 $60,000

Answers

Answer:

$60,000

Explanation:

total sales A + B = $500,000

variable expenses = $260,000

combined contribution margin = $240,000

contribution margin A = $180,000

contribution margin B = $60,000

combined segment margins = $60,000 (= -$20,000 + $80,000)

segment margin B = -$20,000

segment margin A = $80,000

common fixed expenses = $50,000

net income = $10,000

The margin available after a segment has covered all of its costs is known as segment margin. The segment profit margin is $60,000 per segment. As a result, option (d) or (iv) is the proper response.

How do you compute segment margin?

[tex]\text{total sales A + B} = $500,000\\\text{Variable expenses} = $260,000\\\text{Combined contribution margin} = $240,000\\\text{Contribution margin A} = $180,000\\\text{contribution margin B} = $60,000\\\text{combined segment margins} = $60,000 (= -$20,000 + $80,000)\\\text{segment margin B} = -$20,000\\\text{segment margin A} = $80,000\\\text{common fixed expenses} = $50,000\\\text{net income}= $10,000[/tex]

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As the marginal propensity to consume (MPC) increases, the spending multiplier: Increases, decreases, stays the sameIf the marginal propensity to consume is 0.70, then, assuming there are no taxes or imports, the multiplier is: (Note: round to the nearest tenth)Given the multiplier that you calculated, what is the total impact on spending when there is a $1,000 increase in government spending?

Answers

Answer:

(a) As the marginal propensity to consume (MPC) increases, the spending multiplier Increases.

(b) Multiplier is 3.30.

(c) Total impact on spending is $3,300.

Explanation:

(a) As the marginal propensity to consume (MPC) increases, the spending multiplier: Increases, decreases, stays the same.

In economics, the higher the MPC, the higher the spending multiplier.

Therefore, as the marginal propensity to consume (MPC) increases, the spending multiplier Increases.

(b) If the marginal propensity to consume is 0.70, then, assuming there are no taxes or imports, the multiplier is: (Note: round to the nearest tenth).

This can be calculated as follows:

Multiplier = 1 / (1 - MPC) = 1 / (1 - 0.70) = 1 / 0.30 = 3.33333333333333

Rounding to the nearest tenth, we have:

Multiplier = 3.30

(c) Given the multiplier that you calculated, what is the total impact on spending when there is a $1,000 increase in government spending?

Total impact on spending = Increase in government spending * Multiplier = $1,000 * 3.30 = $3,300

The spending multiplier rises as the marginal propensity to consume (MPC) rises. 3.30 is the multiplier. The total financial impact is $3,300.

What is the total impact on spending?

(a) The spending multiplier grows, declines, or remains constant when the marginal propensity to consume (MPC) increases.

The higher the MPC, the higher the spending multiplier in economics.

As a result, the spending multiplier rises as the marginal propensity to consume (MPC) rises.

(b) If the marginal propensity to consume is 0.70, the multiplier is: assuming no taxes or imports (Note: round to the nearest tenth).

Computation:

[tex]\text{Multiplier} = 1 / (1 - MPC) \\= 1 / (1 - 0.70) \\= 1 / 0.30 \\= 3.33333333333333[/tex]

If we round to the nearest tenth, we get: a 3.30 multiplier

(c) Given the multiplier you computed, what is the total impact on spending when government spending is increased by $1,000?

[tex]\text{Total impact on spending = Increase in government spending} \text{ x } \text{Multiplier}\\ = $1,000 \text { x } 3.30 = $3,300[/tex]

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Ringo now has $700. How much would he have after 4 years if he leaves it invested at 6% with annual compounding?

Answers

Answer:

$883,74

Explanation:

The amount that would result after 4 years is called the Future Value (FV). this is calculated using Time Value of Money Techniques.

Using a Financial Calculator, this will be calculated as follows :

PV = $700

N = 4

I = 6%

PMT = 0

P/YR = 1

FV = ?

Entering the values as shown gives a Future Value (FV) of $883,74.

which of the following is an example of a substitute for leadership within an organization?
a. expert employees who have been trained with the company for years
b. personalities of employees
c. lack of established norms within the company
d. low tech ability with the staff

Answers

Answer:

B; Personality of the employees

Solvency is of most interest to:_____.
a. stockholders.
b. long-term creditors.
c. short-term creditors.
d. competitors.

Answers

Answer:

b. long-term creditors.

Explanation:

Meeting up with a corporations semipermanent depths and money obligations is what economic condition is seen to speak about; this can be why it's labelled to be the interest of the same creditors within the on top of question. within the end of the day, itbis seen that tons of corporations have negative shareholders’ equity, that is generally a symptom of insolvency; insinuates that an organization has no value, and this might even cause personal losses for little business homeowners if not protected by indebtedness terms if an organization should shut. In essence, if an organization was needed to right away fold, it'd have to be compelled to liquidate all of its assets and pay off all of its liabilities, going away solely the shareholders equity as a remaining valuehave negative shareholders’ equity, that may be a sign of financial condition.

 

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