Flamengo Co is a sporting goods manufacturing company. Last year, report the following information: Sales S700,000 Cost of goods sold $130.000 Selling and administrative expense $260,000 At the beginning of the year, the value of operating assets was $800,000. At the end of the year, the value of operating assets was $1,200,000. Flamenge Co. requires a minimum rate of return of 15%. Calculate the Margin. Round all numbers to two decimal places. Do not answer as a percentage. For example, if the Margin is 17,63%, you should type 0.18.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Flamengo Co is a sporting goods manufacturing company. Last year, report the following information:
Sales
S700,000
Cost of goods sold
$130,000
Selling and administrative expense
$260,000
At the beginning of the year, the value of operating assets was $800,000. At the end of the year, the value of operating assets was $1,200,000. Flamengo-
Co. requires a minimum rate of return of 15%. Calculate the Margin. Round all numbers to two decimal places. Do not answer as a percentage. For
example, if the Margin is 17.63%, you should type 0.18.
Transcribed Image Text:Flamengo Co is a sporting goods manufacturing company. Last year, report the following information: Sales S700,000 Cost of goods sold $130,000 Selling and administrative expense $260,000 At the beginning of the year, the value of operating assets was $800,000. At the end of the year, the value of operating assets was $1,200,000. Flamengo- Co. requires a minimum rate of return of 15%. Calculate the Margin. Round all numbers to two decimal places. Do not answer as a percentage. For example, if the Margin is 17.63%, you should type 0.18.
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