Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The company's products include such brands as Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren, Polo Jeans Co., and Chaps. Polo Ralph Lauren reported the following (in thousands) for two recent years: For the Period Ending Year 2 Year 1 Sales $7,620,000 $7,450,000 Accounts receivable 857,000 800,000 Assume that accounts receivable (in millions) were $607,000 at the beginning of Year 1. a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decimal places. b. Compute the days' sales in receivables for Year 2 and Year 1. Use 365 days and round to one decimal place. What conclusions can be drawn from these analyses regarding Ralph Lauren's c. efficiency in collecting receivables?
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- The Toledo Shirt Company manufactures men’s shirts sold to department stores and other outlets throughout Ohio, Illinois, and Indiana. For the past 14 years, one of Toledo’s major customers has been Abraham and Sons, a chain of nine stores selling men’s clothing. Mr. Abraham retired 18 months ago and his two sons took complete control of the organization. Since that time, they have invested significant sums of money in an attempt to expand each store by also selling women’s clothing. Success in this new market has proven to be difficult. Abraham and Sons is not known for selling women’s clothing, and no one in the company has much expertise in the area.Approximately seven months ago, James Thurber, Toledo’s chief financial officer, began to notice that Abraham and Sons was taking longer than usual to make payments. Instead of the normal 30 days, the retailer was taking 45 days—and frequently longer—to pay each invoice. Because of the amount of money involved, Thurber began to monitor…Jodi's Chop Shop is a retail chain specializing in salon-quality hair-care products. During the year, Jodi's Chop Shop had sales of $39,235,000. The company began the year with $3,500,000 of merchandise inventory and ended the year with $4,445,000 of inventory. During the year, Jodi's Chop Shop purchased $24,215,000 of merchandise inventory. The company's selling, general, and administrative expenses totaled $7,185,000 for the year. Prepare Jodi's Chop Shop's income statement for the year. Begin by calculating Jodi's Chop Shop's cost of goods sold using the table below. Jodi's Chop Shop Calculation of Cost of Goods Sold For the Year Ended Beginning inventory Purchases Plus: Cost of goods available for sale Less: Ending inventory Cost of goods soldSandhill Decor sells home decor items through three distribution channels—retail stores, the Internet, and catalog sales. Each distribution channel is evaluated as an investment center. Selected results from the latest year are as follows: Retail Stores Internet Catalog Sales Sales revenue $12,000,000 $3,700,000 $6,600,000 Variable expenses 4,000,000 1,355,000 1,950,000 Direct fixed expenses 5,960,000 994,500 4,188,000 Average assets 8,000,000 3,700,000 2,000,000 Required rate of return 12% 12% 12% (a1) Calculate the margin and asset turnover for each of the three distribution channels. (Round answers to 2 decimal places, e.g. 5.12% or 5.12.) Retail Stores Internet Catalog Sales Margin enter percentages % enter percentages % enter percentages % Asset turnover enter a ratio enter a ratio enter a ratio
- - Required information [The following information applies to the questions displayed below.] Ellery Products manufactures various components for the fashion industry. Ellery buys fabric from two vendors: Ewers Textiles and Bramford Materials. Ellery chooses the vendor based on price. Once the fabric is received, it is inspected to ensure that it is suitable for manufacturing purposes. Ellery disposes of fabric that is deemed unsuitable. The controller at Ellery collected the following information on purchases for the past quarter. 2 Total purchases (yards). Fabric discarded (yards) Bid Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. The purchasing manager has just received bids on an order for 800 yards of fabric from both Ewers and Bramford. Ewers bid $2,280 and Bramford bid $2,156. Required: a. What bid by Ewers would make Ellery indifferent between buying from Ewer or Bramford? Note: Round your answer to 2…ABC is an online-to-offline platform that sells e-commerce products to offline customers through a network of agents. ABC gives a commission to agents for each sale made. ABC has 4 main product categories: electronics, fashion, supermarket, and others. Please refer to the exhibits for data sets pertaining to the questions below. Today is May 16th. What is the average growth in average sales per agent per month from March to May target? Answer:..... % Which one is the category with the highest and lowest average month-on-month sales growth from March to May target? Answer: Highest : .......... Lowest:............. Today is 16th May We have got the interim result of the sales figures in the first half of May. Typically, the first half of the month constitutes of 40% of sales. Using this assumption, will we reach our May target? What % over the target will we over/under-deliver? Answer: under/over-deliver by ......... % of target Using that assumption, which…ABC is an online-to-offline platform that sells e-commerce products to offline customers through a network of agents. ABC gives a commission to agents for each sale made. ABC has 4 main product categories: electronics, fashion, supermarket, and others. Please refer to the exhibits for data sets pertaining to the questions below. Today is May 16th. 1. What is the average growth in average sales per agent per month from March to May target? Answer: %2. Which one is the category with the highest and lowest average month-on- month sales growth from March to May target? Answer: Highest: Lowest:3. Today is May We have got the interim result of the sales figures in the first half of May. Typically, the first half of the month constitutes of 40% of sales. Using this assumption, will we reach our May target? What % over the target will we over/under-deliver? Answer: under/over-deliver by % of target4. Using that assumption, which category (or categories) will not reach the targeted sales…
- Al-Noor Corporation assembles bicycles by purchasing frames, wheels, and other parts fromvarious suppliers. Consider the following data:• The company plans to sell 25,000 bicycles during each month of the year's first quarter.• A review of the accounting records disclosed a finished-goods inventory of 1,400 bicycles onJanuary 1 and an expected finished-goods inventory of 1,850 bicycles on January 31.• Al-Noor has 4,300 wheels in inventory on January 1, a level that is expected to drop by 5% atmonth-end.• Assembly time totals 30 minutes per bicycle, and workers are paid $14 per hour.• Al-Noor accounts for employee benefits as a component of direct labor cost. Pension andinsurance costs average $2 per hour (total); additionally, the company pays Social Security taxesthat amount to 8% of gross wages earned.Required:A. How many bicycles does Al-Noor expect to produce (i.e., assemble) in January?B. How many wheels are budgeted to be purchased in January?C. Compute Al-Noor's total direct…! Required information [The following information applies to the questions displayed below.] Ellery Products manufactures various components for the fashion industry. Ellery buys fabric from two vendors: Ewers Textiles and Bramford Materials. Ellery chooses the vendor based on price. Once the fabric is received, it is inspected to ensure that it is suitable for manufacturing purposes. Ellery disposes of fabric that is deemed unsuitable. The controller at Ellery collected the following information on purchases for the past quarter: Total purchases (yards) Fabric discarded (yards) Ewers 19,800 990 Bramford 36,900 4,428 The purchasing manager has just received bids on an order for 800 yards of fabric from both Ewers and Bramford. Ewers bid $2,261 and Bramford bid $2,134. Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. Required: a. What bid by Ewers would make Ellery indifferent between buying from Ewer or Bramford?…! Required information [The following information applies to the questions displayed below.] Ellery Products manufactures various components for the fashion industry. Ellery buys fabric from two vendors: Ewers Textiles and Bramford Materials. Ellery chooses the vendor based on price. Once the fabric is received, it is inspected to ensure that it is suitable for manufacturing purposes. Ellery disposes of fabric that is deemed unsuitable. The controller at Ellery collected the following information on purchases for the past quarter: Total purchases (yards) Fabric discarded (yards) Ewers 19,800 990 Bramford 36,900 4,428 The purchasing manager has just received bids on an order for 800 yards of fabric from both Ewers and Bramford. Ewers bid $2,261 and Bramford bid $2,134. Required: 1-a. Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. What is the effective cost per 800 yards for both Ewers and Bramford? 1-b. Which…
- QT, Inc. and Elppa Computers, Inc. compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a computer within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from inventory once an order is received. Selected financial information for both companies from recent financial statements follows (in millions): QT Elppa Sales $35,040 $46,400 Cost of goods sold 29,200 43,800 Inventory, beginning of period 932 4,028 Inventory, end of period 1,132 4,828 a. Determine for both companies (1) the inventory turnover and (2) the number of days' sales in inventory. Round your calculations and answers to one decimal place. Assume 365 days a year. (refer to image) b. QT has a ______ (higher/lower) inventory turnover ratio than does Elppa Company. Likewise, QT has a _____ (larger/smaller) number…QT, Inc., and Elppa Computers, Inc., compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a computer within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from inventory once an order is received. Selected financial information for both companies from recent financial statements follows (in millions): QT Elppa Sales $56,940 $120,357 Cost of merchandise sold 44,754 92,385 Inventory, beginning of period 1,382 6,317 Inventory, end of period 1,404 7,490 a. Determine for both companies (1) the inventory turnover and (2) the number of days' sales in inventory. Round your calculations and answers to one decimal place. Assume 365 days a year. QT Elppa 1. Inventory turnover fill in the blank 1 fill in the blank 2 2. Number of days' sales in inventory…Read the case below and answer the questions following it. DURAPLAST Company Ltd., opened its doors in 1979 as a wholesale supplier of plumbing equipment, tools, and parts to hardware stores, home-improvement centers, and professional plumbers in the Accra-Tema Metropolitan area. Over the years they have expanded theiroperations to serve customers across the nation and now employ over 200 people as technical representatives, buyers, warehouse workers, and sales and office staff. Most recently DURAPLAST has experienced fierce competition from the large online discount stores such as Qualiplast and Interplast. In addition, the company is suffering from operational inefficiencies related to its archaic information system. DURAPLAST’s revenue cycle procedures are described in the following paragraphs. Revenue Cycle DURAPLAST’s sales department consists of 17 full-time and part-time employees. They receive orders via traditional mail, e-mail, telephone, and the occasional walk-in.…