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?Tel Co manufactures televisions and sells them to large retailers. Due to high staff turnover, no liquidity ratios have been calculated for the year ahead.

The bank is concerned about the forecast increase in Tel Co's overdraft to $40,500 at BO November 20X4, and has suggested that the ratios be calculated. The following forecast information is available for the year ended 30 November 20X4:

???????????????????????????????????????????????????? $

Revenue???????????????????????????? ???? 343,275

Cost of sales????????????????????????? ?284,000

Purchases?????????????????????????????? 275,000

Closing Inventory??????????????????? 35,000

Receivables????????????????????????????37,400

Payables????????????????????????????????35,410

44

【簡答題】

For Tel Co for the year ended 30 November 20X2 calculate:

(i)?The inventory holding period?

(H)?The receivables collection period?

(iii)?The payables period?

(iv)?The current ratio?

Perform your calculations for (i), (ii) and (iii) to the nearest day and assume that there are 365 days in a year

Perform your calculation for part (iv) to B decimal places.

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考點：Chapter21Performancemeasurement

?Liquidity ratios:

(i)?Inventory holding period = $35,000/$284,000 x 365 = 45 days

(ii)?Receivables collection period = $37,400/$343,275 x 365 = 40 days

(iii)?Payables period = $35/410/$275,000 x 365 = 47 days

(iv)?Current ratio = ($35,000 + $37,400)/<$40,500 + $35,410} = 0.954

多做幾道

What was the actual usage of direct material during February?

A

800 kg

B

1,000 kg

C

1,200 kg

D

None of these

What was the selling price variance for February?

A

$120 (F)

B

$900 (A)

C

$1,200 (A)

D

$1,200 (F)

What was the sales volume profit variance for February?

A

$900 (F)

B

$1,200 (F)

C

$900 (A)

D

$2,100 (A)

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Cabrinda Co manufactures bulbs. The following figures are available:

??500 kg of direct materials were actually purchased

??The standard cost per kg is $2.25, leading to a standard cost of actual purchases of $1,125

??The direct materials price variance is $125 favourable

??The direct materials usage variance is $45 adverse

30

【簡答題】

From the information provided calculate

(i)?The actual price paid per kg for the direct material?

(ii)?The standard quantity that should have been used for actual production.

Which of the following is likely to lead to the variances stated above?

A

lower quality direct material has been purchased

B

?higher quality direct material has been purchased

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