Cabell Products is a division of a major corporation. Last year the division had total sales of $$28,770,000,$ net operating income of $$1,611,120,$ and average operating assets of $$5,754,000.$ The company's minimum required rate of return is $10\%.$

The division's return on investment $($ROI$)$ is closest to:

Multiple Choice

$5\mathrm{.}6\%$

$28\mathrm{.}0\%$

$56\mathrm{.}0\%$

$20\mathrm{.}0\%$

Variable and Absorption Costing using Excel's SUM and Basic Math Functions

Addison, Inc. makes a single product, an indoor fireplace, and has provided data from last year of operations. The Controller has asked you to compare income statements if the company used the variable costing approach vs$.$ the absorption costing report. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, $"=$B$3"$ was entered, the formula would output the result from cell B$3,$ or $420$ in this example.

Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: $+($plus sign to add$),-($minus sign to subtract$),*($asterisk sign to multiply$),$ and $/($forward slash to divide$).$ From the Excel Simulation below, if in a blank cell $"=B15+B16"$ was entered, the formula would add the values from those cells and output the result, or $9,500$ in this example. If using the other math symbols the result would output an appropriate answer for its function.

SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell $"=$SUM$($B$6,$B$7,$B$8)"$ was entered, the formula would output the result of adding those three separate cells, or $215$ in this example. Similarly, if in a blank cell $"\frac{?}{S}=UM(B6$:$B8)"$ was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be $215$ in this example.