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Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: 20Y5 20Y4 $1,668,000 $1,125,000 Beginning of year 670,000 End of year 720,000 580,000 670,000 a. Determine the fixed asset turnover ratio for 2014 and 20Y5. Round to one decimal place. b. Does the change in the fixed asset turnover ratio from 2004 to 20Y5 indicate a favorable or an unfavorable change?

Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: 20Y5 20Y4 $1,668,000 $1,125,000 Beginning of year 670,000 End of year 720,000 580,000 670,000 a. Determine the fixed asset turnover ratio for 2014 and 20Y5. Round to one decimal place. b. Does the change in the fixed asset turnover ratio from 2004 to 20Y5 indicate a favorable or an unfavorable change?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: 20Y5 20Y4 $1,668,000 $1,125,000 Beginning of year 670,000 End of year 720,000 580,000 670,000 a. Determine the fixed asset turnover ratio for 2014 and 20Y5. Round to one decimal place. b. Does the change in the fixed asset turnover ratio from 2004 to 20Y5 indicate a favorable or an unfavorable change?
Transcribed Image Text:Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: 20Y5 20Y4 $1,668,000 $1,125,000 Beginning of year 670,000 End of year 720,000 580,000 670,000 a. Determine the fixed asset turnover ratio for 2014 and 20Y5. Round to one decimal place. b. Does the change in the fixed asset turnover ratio from 2004 to 20Y5 indicate a favorable or an unfavorable change?
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