The Following Information Was Available for the Year Ended December

question 32

Multiple Choice

The following information was available for the year ended December 31, 2019: $\begin{array}{lr}\text { Net sales } & \$ 300,000 \\\text { Cost of goods sold } & 210,000 \\\text { Average accounts receivable for the year } & 15,000 \\ \text { Accounts receivable at year-end } & 18,000 \\\text { Average inventory for the year } & 60,000 \\\text { Inventory at year-end } & 70,000\end{array}$ The number of days' sales in accounts receivable for 2019, using year- end accounts receivable were:

• A)18.3 days
• B)21.9 days
• C)26.1 days
• D)31.1 days

Discuss the methods and importance of relational repair and maintenance in professional settings.

Understand the principles and importance of reflective listening in enhancing interpersonal communication.

Recognize the roles and effects of different communication media in terms of their information richness and data capacity.

Identify the emotional and conceptual components of a message in interpersonal communication.

---

Definitions:

Variable Manufacturing Overhead

Costs of manufacturing overhead that vary directly with the level of production, such as utilities used in the production process.

Product Costs

Costs directly associated with the production of goods, including materials, labor, and manufacturing overhead.

Absorption Costing

A costing method that includes all manufacturing costs — direct materials, direct labor, and both variable and fixed manufacturing overhead — in the cost of a product.

Variable Costing

An accounting method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in product costs.