Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A Investment Center Sales Net income Average invested assets Profit margin Investment turnover Return on investment ? $ 352,000 $1,400,000 $10,400,000 $ $ 8% 2%
A Investment Center Sales Net income Average invested assets Profit margin Investment turnover Return on investment ? $ 352,000 $1,400,000 $10,400,000 $ $ 8% 2% 1.5 ?$ 128 Use the information in the table above to compute each department's contribution to overhead (both in dollars and as a percent). (Round your final answers to 2 decimal places.) = Profit Margin: Choose Numerator: Investment Center Net income A 352,000 1 / 1 Choose Denominator: Sales Profit Margin Profit margin 8.00 % = Investment Turnover: Choose Numerator: Investment Center Sales A BI 1 Choose Denominator: 1 Average invested assets [ $ 1,400,000 Investment Turnover Investment turnover = 1.50 Return on investment: Choose Numerator: Choose Denominator: Investment Center Net income / Average invested assets [ $ 352,000 1 $ 1,400,000 = = Return on investment Return on investment 12.00%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started