question archive Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1Sales$4,521,000 $3,960,000 Fixed assets: Beginning of year1,140,000 1,060,000 End of year1,600,000 1,140,000 a
Fixed Asset Turnover Ratio Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1Sales$4,521,000 $3,960,000 Fixed assets: Beginning of year1,140,000 1,060,000 End of year1,600,000 1,140,000 a
Subject:AccountingPrice: Bought3
Fixed Asset Turnover Ratio
Financial statement data for years ending December 31 for Dennis Company follow:
Year 2 Year 1Sales$4,521,000 $3,960,000 Fixed assets: Beginning of year1,140,000 1,060,000 End of year1,600,000 1,140,000
a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place.
Fixed asset turnoverYear 1fill in the blank 1
Year 2fill in the blank 2
b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change?
