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1. Runyon Inc. reported the following results from last years operations:
| | | |
| Sales | $ | 16,800,000 |
| Variable expenses | | 12,230,000 |
| Contribution margin | | 4,570,000 |
| Fixed expenses | | 3,394,000 |
| Net operating income | $ | 1,176,000 |
| |
The companys average operating assets were $7,000,000.
Last year's turnover was closest to:
Multiple Choice
14.29
0.07
0.42
2.40
2. Verbeke Inc. reported the following results from last years operations:
| | | |
| Sales | $ | 6,300,000 |
| Variable expenses | | 3,890,000 |
| Contribution margin | | 2,410,000 |
| Fixed expenses | | 2,032,000 |
| Net operating income | $ | 378,000 |
| Average operating assets | $ | 3,000,000 |
| |
Last year's turnover was closest to:
Answer & Explanation
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