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Category > Accounting Posted 19 Aug 2017 My Price 9.00

Elway Company

Exercise 12-21 Margin, Turnover, Return on Investment, Average Operating Assets

Elway Company provided the following income statement for the last year:

 

 

Sales

$1,040,000,000

Less: Variable expenses

700,250,000

Contribution margin

$   339,750,000

Less: Fixed expenses

183,750,000

Operating income

$   156,000,000

 

At the beginning of last year, Elway had $28,300,000 in operating assets. At the end of the year, Elway had $23,700,000 in operating assets.

Required:

1.       Compute average operating assets.

2.       Compute the margin and turnover ratios for last year. (Note: Round the answer for margin ratio to two decimal places.)

3.       Compute ROI. (Note: Round answer to two decimal places.)

4.       CONCEPTUAL CONNECTION Briefly explain the meaning of ROI.

5.       CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is rela- tively high (as compared to the lower ROI of a typical manufacturing company).

 

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Maurice Tutor
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Status NEW Posted 19 Aug 2017 05:08 PM My Price 9.00

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