Homework Answers
Fixed asset turnover ratio = Sales/Fixed Assets
= 1,550,000/345,000
= 4.4928
Sales = 1,550,000/96%
= $1,614,583
Target Ratio = 345,000/1,614,583
= 21.37%
Fixed Assets turnover ratio = 1614583/345000
= 4.680x
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