The Financial Statements of Midwest Tours Are Given Below

question 72

Multiple Choice

The financial statements of Midwest Tours are given below.
-Refer to the financial statements of Midwest Tours.The firm's average collection period for 2009 is __________.

• A)69.35
• B)69.73
• C)68.53
• D)67.77
• E)68.52

---

Definitions:

Fixed Cost

A financial outlay that is unaffected by variations in the production or sales levels of goods and services.

Marginal Cost

The expense associated with creating an extra unit of a product or service.

Total Cost

The complete cost of producing a specific quantity of output, including both fixed and variable costs.

Output

The total amount of goods or services produced by a company, industry, or economy within a certain period.