From the Following Data, Find the 2015 Net Sales Index

question 78

Short Answer

From the following data, find the 2015 Net Sales index number. (Round to nearest tenth percent) $$\begin{array}{l}\text { VanDeLay Industries-5-Y ear Selected Financial Data }\\\begin{array} { | l | l | l | l | l | l | } \hline & 2015 & 2014 & 2013 & 2012 & 2011 \\\hline \text { Net Sales } & 541,490 & 496,780 & 496,780 & 464,280 & 438,000 \\\hline \text { Total Assets } & 969,070 & 905,670 & 879,290 & 906,480 & 871,620 \\\hline \text { Stockhol der's Equity } & 418,000 & 454,350 & 458,940 & 463,580 & 429,240 \\\hline\end{array}\end{array}$$

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Definitions:

Conversion Costs

Costs incurred to convert raw materials into finished products, typically including direct labor and manufacturing overhead.

Process Costing

A costing method used in manufacturing where the costs are assigned to batches or job orders and averaged over the units produced, typically used in industries producing homogeneous products.

Weighted-Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the average cost of all similar items in inventory.

Equivalent Unit Cost

The calculation of the cost assigned to produced units during a specific period, considering both completed and partially completed products.