How do I calculate gross margin percentage, current ratio and inventory turnover?
• Using ratios, calculate current Liabilities, level of inventory for Ace Industries – 4-1 Ace Industries has current assets equal to three million. The company’s current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firm’s l … • Process costing, Acid-test ratio, direct materials. The cost of units transferred out during the month was. The company’s acid-test (quick) ratio is. Compute the amount of direct materials used. – 76. Trapp Company uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 70% complete wit … • Pelican sales forecast: Production and purchase budget – Pelican Co. is forecasting sales of 40,300 units of product for October. To make one unit of finished product, 10 pounds of raw materials are required. Actual beginning and desired ending inventories … • Managerial Accounting – The manufacturing ope
