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Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,110,680 $2,167,200 Fixed assets: Beginning of year 540,000 492,000 End of year 542,400 540,000 a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2 b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change? Unfavorable v

Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,110,680 $2,167,200 Fixed assets: Beginning of year 540,000 492,000 End of year 542,400 540,000 a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2 b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change? Unfavorable v

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.2ADM: Home Depot: Asset turnover ratio The Home Depot reported the following data (in millions) in its...
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Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,110,680 $2,167,200 Fixed assets: Beginning of year 540,000 492,000 End of year 542,400 540,000 a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2 b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change? Unfavorable v
Transcribed Image Text:Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,110,680 $2,167,200 Fixed assets: Beginning of year 540,000 492,000 End of year 542,400 540,000 a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. Fixed asset turnover Year 1 Year 2 b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change? Unfavorable v
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