Computing Asset Related RatiosJ.M. Smucker included the following information in its April 2019 10-K.$ millionsApr. 30, 2019Apr. 30, 2018Sales$7,916.4 Depreciation expense208.1 Land123.3$121.3Buildings and fixtures912.2820.7Machinery and equipment2,250.62,174.8Construction in progress325.0214.2Gross property, plant, and equipment3,611.13,331.0Accumulated depreciation(1,635.9)(1,542.5)Total property, plant, and equipment$1,975.2$1,788.5a. Compute PPE turnover for fiscal year ended April 30, 2019.Round answer to one decimal place.Answerb. Compute the average useful life of depreciable assets at April 30, 2019.Round answer to one decimal place.Answer yearsc. Compute the percentage used up of the PPE at April 30, 2019.Round answer to one decimal place (ex: 0.2345 = 23.5%)Answer%

PPE Turnover = Net sales (÷) Average Total property, Plant and equipment = 7916.4 ÷ [ (1975.2 +…

Answered: Compute PPE turnover for fiscal year…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Computing Asset Related Ratios

J.M. Smucker included the following information in its April 2019 10-K.

$ millions	Apr. 30, 2019	Apr. 30, 2018
Sales	$7,916.4
Depreciation expense	208.1
Land	123.3	$121.3
Buildings and fixtures	912.2	820.7
Machinery and equipment	2,250.6	2,174.8
Construction in progress	325.0	214.2
Gross property, plant, and equipment	3,611.1	3,331.0
Accumulated depreciation	(1,635.9)	(1,542.5)
Total property, plant, and equipment	$1,975.2	$1,788.5

a. Compute PPE turnover for fiscal year ended April 30, 2019.
Round answer to one decimal place.
Answer

b. Compute the average useful life of depreciable assets at April 30, 2019.
Round answer to one decimal place.
Answer years

c. Compute the percentage used up of the PPE at April 30, 2019.
Round answer to one decimal place (ex: 0.2345 = 23.5%)
Answer%

Expert Solution