Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2.

	Year 2			Year 1
Cash	$	39,300		$	34,050
Short-term investments		108,000			69,000
Accounts receivable, net		94,500			88,500
Merchandise inventory		130,000			134,000
Prepaid expenses		13,900			11,500
Plant assets		397,000			347,000
Accounts payable		104,400			116,800
Net sales		720,000			685,000
Cost of goods sold		399,000			384,000

Multiple Choice

• 8.14.

• 5.54.

• 7.87.

• 7.62.

• 6.67.

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $222,000 of raw materials on credit; issued materials to production of $215,000 of which $36,000 were indirect. Minstrel incurred a factory payroll of $162,000, of which $46,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,500 and $31,000 respectively. Compute the cost of product transferred to Finished Goods Inventory:

Multiple Choice

• $616,500.

• $486,000.

• $455,000.

• $455,500.

• $457,000.