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Category > Accounting Posted 23 Apr 2017 My Price 3.00

Compute average operating assets

Exercise 22-26 MARGIN, TURNOVER, RETURN ON INVESTMENT, AVERAGE OPERATING ASSETS

Elway Company provided the following income statement for last year:

 

Sales

$285,000

Less: Variable expenses

171,000

Contribution margin

$114,000

Less:  Fixed expenses

91,200

Operating income

$  22,800

At the beginning of last year, Elway had $180,000 in operating assets. At the end of the year, Elway had $200,000 in operating assets.

 

Required:

1.     Compute average operating assets.

2.     Compute the margin and turnover ratios for last year.

3.     Compute ROI.

Answers

Alpha Geek
(8)
Status NEW Posted 23 Apr 2017 05:04 PM My Price 3.00

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file 1492968764-Answer.docx preview (83 words )
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