Question
A food manufacturer reports the following for two of its divisions for a recent year. ($millions)...
A food manufacturer reports the following for two of its divisions for a recent year.
| ($millions) | Beverage Division | Cheese Division | |||||
| Invested assets, beginning | $ | 2,672 | $ | 4,465 | |||
| Invested assets, ending | 2,598 | 4,405 | |||||
| Sales | 2,686 | 3,930 | |||||
| Operating income | 354 | 639 | |||||
1. Compute return on investment.
2. Compute profit margin.
3. Compute investment turnover for the year.
Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 2 Compute return on investment. (Enter your answers in millions.) Return on Investment IChoose Denominator: Return on Investment Choose Numerator: Investment Center Operating income 354 Average invested assets Return on investment Beverage 0 Cheese $ 639 0 Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Compute profit margin. (Enter your answers in millions.) Profit Margin IChoose Denominator: Choose Numerator: Profit Margin Profit margin Investment Center Beverage Cheese 0 Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Compute investment turnover for the year. (Enter your answers in millions.) Investment Turnover Choose Denominator: Choose Numerator: Investment Turnover Investment Center Investment turnover Beverage 0 Cheese 0
Answers
Investment Center Beverage Cheese Return on Investment Numerator Denominator = Return on Investment Operating Income | 7 Average invested assets = Return on Investment 354 / 2635 = 13.4% 639 / 4435| = || 14.4% Investment Center Beverage Cheese Profit margin Numerator Operating Income 1 354 / 639 / Denominator = Sales = 2686 = 3930 = Profit margin Profit margin 13.2% 16.3% Investment Center Beverage Cheese Investment Turnover Numerator 1 Denominator = | Investment Turnover Sales 17 Average invested assets = | Investment Turnover 2686 / 2635 = 1.02 39301 / 4435) = 0.89
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