The following information relates to Kew Company's Vale Division for last year: sales .................................. $500,000...
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Accounting
The following information relates to Kew Company's Vale Division for last year: sales .................................. $500,000 variable costs ......................... 300,000 fixed costs ............................ 50,000 return on investment ................... 25% minimum required rate of return ........ 6% Calculate the residual income reported by Vale Division last year.
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