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Cornerstones of Financial Accounting

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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Question

Financial statement data for years ending December 31 for DePuy Company follow:
Year 2
Year 1
Sales
$5,510,000
$4,880,000
Fixed assets:
Beginning of year
End of year
1,600,000
1,450,000
2,200,000
1,600,000
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?

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