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unde Runyon Inc. reported the following results from last year's operations: Sales $ 16,800,000 Variable expenses 12,230,000 Contribution margin 4,570,000 Fixed expenses 3,394,000 Net operating
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Runyon Inc. reported the following results from last year's operations:
|
|
|
Sales | $ | 16,800,000 |
Variable expenses |
| 12,230,000 |
Contribution margin |
| 4,570,000 |
Fixed expenses |
| 3,394,000 |
Net operating income | $ | 1,176,000 |
The company's average operating assets were $7,000,000.
Last year's turnover was closest to:
Please do not include the units in the answer.Round off to one place of decimal.
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