Speedy Solutions Inc. reported the following results from last year's operations: • • • • • Sales: $25,500,000 Variable expenses: $18,200,000 Contribution margin: $7,300,000 Fixed expenses: $5,600,000 Net operating income: $1,700,000 The company's average operating assets were $4,500,000. Last year's turnover was closest to:

Speedy Solutions Inc. reported the following results from last year's operations: • • • • • Sales: $25,500,000 Variable expenses: $18,200,000 Contribution margin: $7,300,000 Fixed expenses: $5,600,000 Net operating income: $1,700,000 The company's average operating assets were $4,500,000. Last year's turnover was closest to:

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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Ans
Bobick turnover ratio for last year