Mcewan industries sells on terms of 3/10, net 30. total sales for the year are $857,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 82 days after their purchases. assume 365 days in year for your calculations.
a. what is the days sales outstanding? round your answer to two decimal places.
b. what is the average amount of receivables? round your answer to the nearest cent. do not round intermediate calculations.
c. what is the percentage cost of trade credit to customers who take the discount? round your answers to two decimal places.
d. what is the percentage cost of trade credit to customers who do not take the discount and pay in 82 days? round your answers to two decimal places. do not round intermediate calculations.
e. what would happen to mcewan’s accounts receivable if it toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day? round your answers to two decimal places. do not round intermediate calculations.

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.