Use the Table for the Question(s)below

question 12

Essay

Use the table for the question(s)below.
Consider the following income statement and other information:
Luther Corporation
Consolidated Income Statement
Year ended December 31 (in $ millions)
-If Luther's accounts receivable were $55.5 million in 2019,then calculate Luther's accounts receivable days for 2009.

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Definitions:

Manufacturing Overhead Applied

The allocation of estimated manufacturing overhead to individual jobs or products based on a predetermined overhead rate.

Total Manufacturing Costs

Sum of all costs directly involved in the production of goods, including raw materials, direct labor, and manufacturing overhead.

Direct Labor Cost

The wages or expenses directly associated with the workers who are physically involved in creating a product or providing a service.

Actual Overhead

The real costs incurred for overhead in a given period, compared against budgeted or standard overhead costs for variance analysis.