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Does the change in the fixed asset turnover ratio

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Select financial statement data for two recent years for Davenport Company are as follows:

                                       20Y5                       20Y4

Sales                            $1,668,000              $1,125,000

Fixed assets:

Beginning of year                  670,000                580,000

End of year                         720,000                 670,000

Problem a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place.

Problem b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change?

Reference no: EM132957067

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