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Compute the XYZ Division residual income

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Reference no: EM132940594

Problem - ABC Corporation gathered the following data relative to XYZ Division's performance:

Net sales P12,000,000

Costs and expenses 11,000,000

Average operating assets 5,000,000

Desired minimum (or imputed) rate of return established by management 15%

Average industry rate of return 28%

Income tax rate 40%

Required - Compute the XYZ Division's residual income.

Reference no: EM132940594

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