E23-24 (similar to) Question Help Groovy Groovy Motor Company makes electric cars and has only two products, the Simplegreen and the Groovy Groovygreen. To produce the Simplegreen, Groovy Groovy Motor employed assets of $ 14 comma 900 comma 000 $14,900,000 at the beginning of 2017 2017 and $ 27 comma 000 comma 000 $27,000,000 of assets at the end of 2017 2017. Other costs to manufacture the Simplegreen include the following: LOADING... (Click the icon to view the other costs.) Read the requirements LOADING... . Requirement 1. Assuming that Groovy Groovy Motor defines investment as average assets during the period, what is the return on investment for the Simplegreen division? Begin by calculating Simplegreen's operating income. Sales revenue Less: Direct materials Setup Production Gross margin Selling and administration Operating income Enter any number in the edit fields and then click Check Answer. 2 parts remaining Clear All Check Answer Data Table Direct materials $1,000 per unit Setup $1,800 per setup-hour Production $580 per machine-hour General administration and selling costs for Simplegreen total $ 8 comma 460 comma 000 $8,460,000 in 2017 2017. During the year, Groovy Groovy Motor produced 8 comma 000 8,000 Simplegreen cars using 7 comma 000 7,000 setup-hours and 178 comma 600 178,600 machine-hours. It sold these cars for $ 17 comma 000 $17,000 each. PrintDone