The Following Current Year Information Is Available from a Manufacturing

question 75

Essay

The following current year information is available from a manufacturing company:
$\begin{array}{lr}\text { Sales } & \$ 740,000 \\\text { Gross profit on sales } & 276,000 \\\text { Operating income } & 64,000 \\\text { Income before taxes } & 44,000 \\\text { Net income } & 33,600 \\\text { Accounts Receivable, beginning-year } & 58,000 \\\text { Accounts Receivable, end-of-year } & 72,000\end{array}$ Calculate the company's accounts receivable turnover and its days' sales uncollected.

---

Definitions:

Major Components

The primary, significant parts or elements that make up a system, mechanism, or framework.

Cultural Selection

The process by which certain cultural practices, ideas, or products are adopted and spread within a society or from one society to another, often driven by social, environmental, and psychological factors.

Creative Subsystem

Part of a system or process involved in generating novel ideas and solutions within a particular context or organization.

Culture Production System

The organized network of institutions and processes that produce cultural products such as music, literature, and art.