In 2017, Wainwright Company has net credit sales of $1,295,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $107,800.
1. Compute Wainwright Company’s accounts receivable turnover.
2. Compute Wainwright Company’s average collection period in days.
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Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)
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In 2017, Wainwright Company has net credit sales of $1,295,000 for the year. It had a beginning acco...
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