Question 20
During 2014, Phelps Corporation reported net sales of $3,000,000,
net income of $1,320,000, and depreciation expense of $80,000.
Phelps also reported beginning total assets of $1,000,000, ending
total assets of $1,500,000, plant assets of $800,000, and accumulated
depreciation of $500,000. Phelpsâs asset turnover ratio is
Final Part 2
Question 1
A manager of a cost center is evaluated mainly on
Question 2
Bogey Co. recorded operating data for its Cheap division for the
year. Bogey requires its return to be 10%.
Sales
Controllable margin
Total average assets
$ 1,400,000
160,000
4,000,000