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NISA [10]
3 years ago
12

On january​ 1, 2017​ hillop, inc. had total assets of​ $370,000. during the​ year, the company purchased new machinery worth​ $8

8,000 and promised to pay the amount due after two years. throughout the​ year, it earned revenue of​ $60,000 every month. calculate the asset turnover ratio.
Business
1 answer:
makvit [3.9K]3 years ago
5 0
<span>asset turnover ratio is the ratio of the value of a company's sales or revenues generated relative to the value of its assets. The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue. Given that the sales is 60k and the value of the asset is 370k, the ratio is simply the sales / value of assets which is 60/(370-88).</span>
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dolphi86 [110]

Answer:

$1,500,000

Explanation:

Data provided in the question:

contribution margin of the company = $1,000,000

Contribution margin ratio = 40%

Now,

The sales = (contribution margin) / (Contribution margin ratio)

thus,

Sales = \frac{1,000,000}{0.40}

or

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Therefore,

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8 0
2 years ago
The law of diminishing returns is often used to analyze the ideal amount of which factor of production?
WINSTONCH [101]
The correct answer to the question is, Labor.
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5 0
3 years ago
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Molodets [167]

Based on the various cost rates and hours for XYZ Company, the labor efficiency variance is $2,000 unfavorable

<h3>What is the labor efficiency variance?</h3>

This can be found as:

= (Actual hours x Standard rate) - (Standard hours x Standard rate)

Solving gives:

= 83,000 - 85,000

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5 0
1 year ago
In a perfectly competitive industry, the short-run supply curve for the market is the:
DENIUS [597]

Answer:

b. marginal cost curve above the average variable cost curve.

Explanation:

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The supply curve of a perfectly competitive firm in the short run is the part of the marginal cost curve that lies above the average variable cost curve.

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I hope my answer helps you

3 0
3 years ago
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dexar [7]

Answer:

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Even if the stock worth only $1, it still has monetary value. The same for the $4000 paid to him for consulting work and the royalties worth $10,000.

7 0
2 years ago
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