Define the term average collection period?

Q: What

A: Introduction:- The following one of the conditions is required to satisfied for segment reporting as…

Q: What is the direct labor rate variance

A: Solution: Direct labor rate variance is computed as = (SR - AR) *AH Where SR = Standard rate AR =…

Q: What is the standard deviation of asset​ M?

A: Standard deviation tells us how much the expected vary from the actual result.

Q: average collection period_

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

Q: Explain the meaning of the joint price-quantity variance.

A: Joint price-quantity variance: Variances are the difference between the actual results and the…

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: Define target distribution ratio

A: Distribution ratio: Distribution ratio is defined as the proportion of the diverse constituents in…

Q: TOTAL DM Variance,

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

Q: What are the two components of the static budget variance? How are they calculated?

A: Definition:   Static budget variance: The static budget variance is the difference between the…

Q: (b) Calculate the material quantity variance

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

Q: Define Average collection period.

A: Definition:   Accounts receivable turnover: This is the ratio which analyzes the number of times…

Q: What is common size analysis?

A: Answer: Common size analysis that measures the percentage sums of each element on the financial…

Q: Explain Computing Holding Period Returns?

A: Introduction: Holding period returns (HPRs): Holding period return (HPR) is one of the investment…

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: explain activity variances and spending variances with example

A: Variance is defined as the difference between the actual and the budgeted or expected amount.…

Q: What is overhead variance?

A: The variance is the difference between the actual figures with comparison to the budgeted figures.…

Q: What is the meaningful total variance for performance evaluation purposes?

A: Flexible budget: A flexible budget is a budget prepared by the company for effective evaluation of…

Q: What is a prior-period adjustment?

A: Statement of retained earnings: This is a financial statement that shows the amount of net income…

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

A: A variance means difference between actual and budgeted amounts. A spending variance is difference…

Q: What is an activity variance and what does it mean?

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

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: What is the cost price variance? * G

A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

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: Define time period concept.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: What is a quantity standard?

A: A quantity standard is the amount of materials that should be used in the production of a unit.…

Q: Are the non-GAAP measures calculated consistently from one period to the next?

A: Non-GAAP measurements are used by businesses to enhance their financial statements to communicate…

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: cost volume variance?

A: Cost Volume Variance:  (Budgeted units - Actual units produced) × Budgeted price per unit

Q: What is the relationship between management by exception and variance analysis?

A: Management by Exception: Management by exception is the process of finding the deviations in the…

Q: Define estimates.

A: Estimates are future predictions of something. For example at the beginning of the year a business…

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: Define cost variance.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Define weighted average.

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

Q: analyze how the current rate method and the temporal method aff ect fi nancial statementsand ratios

A: The question is based on the concept of different pricing or cost methods used in accounting process…

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: how was the rate found?

A: Details about property are as follows: Name of Item Date of purchase Relates to which Quarter…

Q: Define average collection period (ACP)

A: The formula used for calculating ACP is:

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

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

Q: What is total overhead variance?

A: Overhead means indirect costs incurred in the production and selling of goods. It can be…

Q: Define variance analysis.

A:

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

A:

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.