Othman Inc. reported the following results from last year's operations: Sales Variable expenses $16,800,000 12,230,000 Contribution margin 4,570,000 Fixed expenses 3,394,000 Net operating income $1,176,000 The company's average operating assets were $3,000,000. Last year's turnover was closest to: A) 10.42 B) 5.60 C) 0.92 D) 1.40

Othman Inc. reported the following results from last year's operations: Sales Variable expenses $16,800,000 12,230,000 Contribution margin 4,570,000 Fixed expenses 3,394,000 Net operating income $1,176,000 The company's average operating assets were $3,000,000. Last year's turnover was closest to: A) 10.42 B) 5.60 C) 0.92 D) 1.40

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter11: Performance Evaluation And Decentralization

Section: Chapter Questions

Problem 27E: Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the...

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During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
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General Accounting
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Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $865,050,000 Less: Variable expenses 550,973,000 Contribution margin $314,077,000 Less: Fixed expenses 192,762,000 Operating income $121,315,000 At the beginning of last year, Elway had $38,661,000 in operating assets. At the end of the year, Elway had $41,350,000 in operating assets. Required: 1. Compute average operating assets.$fill in the blank 1 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places. Margin fill in the blank 2 % Turnover fill in the blank 3 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places.fill in the blank 4 % 4. ROI measures a company’s ability to generate relative to its investment in assets. The greater the ROI, the efficiently the company…
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Comprehensive Income
Please help me this question general accounting
Question: Comprehensive Income-Accounting Last year a company had sales of $460,000, a turnover of 2.5, and a return on investment of 62.5%. The company's net operating income for the year was: $184,000 $287,500 $172,500 $115,000
What is the turnover ratio for last year on these general accounting question?