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Determine the fixed asset turnover ratio for year

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Reference no: EM132777212

Question - Fixed Asset Turnover Ratio - Financial statement data for years ending December 31 for Dennis Company follow:

 

Year 2

Year 1

Sales

$4,521,000

$3,960,000

Fixed assets:

 

 

Beginning of year

1,140,000

1,060,000

End of year

1,600,000

1,140,000

Required -

a. Determine the fixed asset turnover ratio for Year 1 and Year 2.

b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change?

Reference no: EM132777212

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