Define Average collection period.

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

Q: Required: calculate zakat using quantity method

A: Zakat is a thing which is given by the Muslims. It is an obligatory thing which all muslims have to…

Q: a collection budget

A: It is given in the question that 60% of the sales is collected within the month of sale and the…

Q: Direct Materials and Direct Labor Variance Analysis

A: a. Determine standard cost per unit Direct material standard cost per unit = Std. number of lbs of…

Q: sponding item on a diffe or key amount on the sa ustry average.

A: The correct statement is  b. a total or key amount on the same statement

Q: average collection period_

A: Average collection period = 365 * ((Accounts receivable, Opening + Accounts receivable,…

Q: What is the interpretation of the direct-material quantity variance?

A: Direct material quantity variance is a variance analysis tool for manufacturing companies. It shows…

Q: What are the valuing inventories?

A: Cost:   It is the economic value incurred by an organization to manufacture a product or to render a…

Q: TOTAL DM Variance,

A: Standard costing is used to determine the estimated expenses for the production process. In this…

Q: (b) Calculate the material quantity variance

A: Material quantity variance is also known as material usage variance. Formula: = ( Standard quantity…

Q: Describe techniques of percentage analysis

A: Percentage analysis: It is a method to denotes raw streams of numbers as a percentage for well…

Q: This type of standard specify how much should be paid for the quantity of the input to be used.…

A: A standard cost is a predetermined cost which determine unit of product or service rendered during…

Q: The direct-material quantity variance is:

A: Direct material quantity variance determines the efficiency of the production department in…

Q: Define the term variance analysis.

A: Variance:   Variance refers to the difference level in the actual cost incurred and standard cost.…

Q: Define variance

A: Variance in statistics is the calculation of the distribution in an information source between the…

Q: Define direct material variance.

A: Variance:   Variance refers to the difference level in the actual cost incurred and standard cost.…

Q: Explain and describe the overhead variance.

A: Variance means when the actual cost does not match with the estimated costs. To compute the…

Q: Create budget assumption

A: Budgeting: Budgeting can be defined as the process of developing a financial plan that company…

Q: Define average accumulated expenditures and explain how the amount is computed.

A:

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: Define fixed overhead variance.

A: Fixed Overhead Variance is the difference between actual and absorbed fixed production overheads…

Q: What is the carryover amount?

A: Introduction Capital losses may be defined as the decrease in the value of capital assets of the…

Q: Differentiate between variance analysis and sensitivity analysis

A: Managers of small businesses can benefit from both variance and sensitivity analyses when trying to…

Q: What type of procedure is a Budget vs. Actual comparison?

A: Budget is a statement of cost and revenue which are estimated at the start of the period  Actual is…

Q: a. What is the material price usage, material quantity and total material variance D. What is the…

A: Material Quantity Variance-It is the difference between how much material used and expected to be…

Q: Understand the basic process underlying monetary unit sampling (MUS) and when to use MUS.

A: Monetary unit sampling (MUS)is a variables sampling method in which the population is viewed as…

Q: List the direct materials variances, and briefly describe each.

A: Direct material variances: Direct material variances are the direct material price variance and the…

Q: Define rolling budget. Give an example.

A:

Q: Define weighted average.

A: Inventory cost flow assumptions: These are the methods used by the companies to compute the cost…

Q: Complete the standard cost variance analysis

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Which of the following is the basic purpose of a responsibility accounting?a. variance analysisb.…

A: Definition: Responsibility accounting: The management of responsibility centers by the means of…

Q: Define residual distribution model

A: The Residual Dividend Model or residual distribution model is a method deployed by company in which…

Q: Given the information, give the following ratio a. Average Collection period

A: Formula: Average collection period = Notes receivable / [ Net sales / 365 ]

Q: find the period of deferral

A: Period of deferral (K) = NT - 1 where  N = number of times of compounding t = time

Q: Define variance analysis.

A:

Q: List the fixed overhead variances, and briefly describe each.

A: Variance:   Variance refers to the difference level in the actual cost incurred and standard cost.…

Q: A budget that adjusts to the changes in volume of production or output is called production budget.

A: FALSE.

Q: Explain how to calculate static budget variance.

A: Static budget: Static budget is a master budget that is prepared for only one level of sales…

Q: Distinguish between static and flexible budgets.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: What is a revenue variance and what does it mean?

A:

Q: Define the term production budget.

A: The creation financial plan figures the quantity of units of items that should be fabricated, and is…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.