Reference no: EM132755335
Green Lake Navigation Inc. makes electric motorboats and produces only two models, the GreenGlide and the GreenPower. To produce the GreenGlide, Green Lake Navigation employed assets of $27,000,000 atthe beginning of the period, and $26,800,000 of assets at the end of the period.
Other costs to manufacture the GreenGlide include the following:
Direct materials $6,000 per unit
Setup $2,600 per setup-hour
Production $830 per machine-hour
General administration and selling coststotal $14,680,000 for the period.
In the current period, Green Lake Navigation produced 10,000 GreenGlide boats using 6,000 setup-hours and 175,200 machine-hours. Green Lake Navigation sold these boats for $24,000 each.
Problem 1. Assuming that Green Lake Navigation defines investment as average assets during the period, what is the return on investment for the GreenGlide division?
Problem 2. Calculate the residual income for the GreenGlide if Green Lake Navigation has a required rate of return of 12% on investments.
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