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Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: 20Y5 20Y4 $1,788,000 $1,164,500 Sales Fixed assets: Beginning of year End of year a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place. 20Y5 730,000 760,000 640,000 730,000 20Y4 Fixed Asset Turnover Ratio b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change? Favorable

Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: 20Y5 20Y4 $1,788,000 $1,164,500 Sales Fixed assets: Beginning of year End of year a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place. 20Y5 730,000 760,000 640,000 730,000 20Y4 Fixed Asset Turnover Ratio b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change? Favorable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: 20Y4 Sales Fixed assets: Beginning of year End of year 20Y5 $1,788,000 730,000 760,000 Learning Objective / Fixed Asset Turnover Ratio $1,164,500 640,000 730,000 a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place. 20Y5 20Y4 b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change? Favorable
Transcribed Image Text:Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: 20Y4 Sales Fixed assets: Beginning of year End of year 20Y5 $1,788,000 730,000 760,000 Learning Objective / Fixed Asset Turnover Ratio $1,164,500 640,000 730,000 a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place. 20Y5 20Y4 b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change? Favorable
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