AutoCAD Classic Autodesk AutoCAD 2014 M: Project I Parametric View Manage Output

Question

AutoCAD Classic Autodesk AutoCAD 2014 M: Project I Parametric View Manage Output Plug-ins Autodesk 360 Express Tools Int&Ext.; 125 MBI Leader Multleader Table × Grafix Image Group Owns × cl ezto.mheducation.com/hm.tpx The following data were included in a recent Papaya Inc. annual report (in millions) 2010 2011 2012 2013 Net revernue Net property, plant, and equipment $74.225 $122,849 $173,5D0 $175,910 14,800 4.880 8,58015,540 Required: 1. Compute Papaya's fixed asset turnover ratio for 2011, 2012, and 2013 (Do not round intermediate calculations. Round your answers to 1 decimal place.) Fixed Asset Year 2011 2012 2013 2. During 2013, Microsoft reported a fixed asset turnover ratio of 9.4. Was Papaya's turnover better or worse than Microsoft's in that year? THIS PAGE I ACCOMPLISHED WEH LAYERS THE LAYOUTTAB SB1 HIS PAGR ACCOMPLISHED THROLGH THE LAYOUTTA SAN

Explanation / Answer

Fixed asset turnover ratio = Net sales/Average asset

Average asset = (Opening asset + closing asset)/2

FAT ratio 2011 = 122849/[(4880+8580)/2]

                            = 122849/[13460/2]

                            = 122849/6730

                            = 18.25

Fat ratio 2012 = 173500/[(8580+15540)/2]

                          = 173500/[24120/2]

                           = 173500/12060

                            = 14.39

FAT ratio 2013 = 175910/[(15540+14800)/2]

                           = 175910/[30340/2]

                           = 175910/15170

                           = 11.6

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