Required information [The following information applies to the questions displayed below.] A manufacturer reports the...
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Required information [The following information applies to the questions displayed below.] A manufacturer reports the following for two of its divisions for a recent month. Average assets Sales Income Beverage Division $ 6,000 3,150 690 Cheese Division $ 11,500 5,200 950 Assume that each of the company's divisions has a target income at 7% of average assets. Compute residual income for each division. Target Income Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income
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