Question
Bulldogs Inc. has a budgeted gross profit of P2,450,000. The firm also determined that its gross profit margin is 50% and its return on
Bulldogs Inc. has a budgeted gross profit of P2,450,000. The firm also determined that its gross profit margin is 50% and its return on sales is 20%. If the Bulldogs Inc. has a unfavorable total gross profit variance of 600,000 and total assets of P5,920,000, what is the actual return on assets? *
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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