Chicks Corporation Had $1,100,000 in Invested Assets, Sales of $1,210,000

question 138

Multiple Choice

Chicks Corporation had $1,100,000 in invested assets, sales of $1,210,000, operating income amounting to $302,500, and a desired minimum return on investment of 15%.​
-The profit margin for Chicks Corporation is

• A)25%
• B)22%
• C)15%
• D)27.5%

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Definitions:

Spending

The act of utilizing financial resources to purchase goods, services, or assets, or to cover operating costs.

Cost Aggregation

The process of combining individual costs or expenses to form a summary total.

Subtotaling Costs

The process of summing up individual costs to create a comprehensive total before final totals or further calculations.

EAC

"Estimate At Completion" - a forecast of the total cost of a project at its conclusion, accounting for all known risks and variables.