Harrison Ltd. reported the following results from last year's operations: Sales = $18,500,000 Variable expenses = $13,000,000 ⚫ Contribution margin = $5,500,000 Fixed expenses = $4,000,000 Net operating income = $1,500,000 Average operating assets = $3,500,000 What was last year's turnover for Harrison Ltd.? a. 4.00 b. 5.29 c. 2.15 d. 1.50

Harrison Ltd. reported the following results from last year's operations: Sales = $18,500,000 Variable expenses = $13,000,000 ⚫ Contribution margin = $5,500,000 Fixed expenses = $4,000,000 Net operating income = $1,500,000 Average operating assets = $3,500,000 What was last year's turnover for Harrison Ltd.? a. 4.00 b. 5.29 c. 2.15 d. 1.50

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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