The 2017 Annual Report of Tootsie Roll Industries contains the following information.

(in millions)

December 31, 2017

December 31, 2016

Total assets

$930.9 $920.1
Total liabilities

197.1
208.6
Net sales

515.7
517.4
Net income

80.7 67.2

Compute the following ratios for Tootsie Roll for 2017.

(a)
Asset turnover (Round answer to 3 decimal places, e. g. 0.851 times.)

enter the asset turnover rounded to 4 decimal places

times
(b)
Return on assets (Round answer to 2 decimal places, e. g. 4.87%.)

enter the return on assets in percentages rounded to 2 decimal places

%
(c)
Profit margin on sales (Round answer to 2 decimal places, e. g. 4.87%.)

enter the profit margin on sales in percentages rounded to 3 decimal places

%

Problem 2-18 job-order costing for a service company [lo2-1, lo2-2, lo2-3]speedy auto repairs uses a job-order costing system. the company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 10,000fixed overhead cost $ 90,000variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate.2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 600direct labor cost $ 180direct labor-hours used 2 compute mr. wilkes' total job cost. 3. if speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged mr. wilkes?

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?