actual return on assets
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bulldogs Inc. has a budgeted gross profit of P2,450,000. The firm also determined that its gross profit margin is 50% and its return on sales is 20%. If the Bulldogs Inc. has a unfavorable total gross profit variance of 600,000 and total assets of P5,920,000, what is the actual return on assets?
A. 20%
B. 25%
C. 30.50%
D. 12.50%
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