An efficiency variance measures how well the business uses its materials or human resources

Willow Golf Course is planning for the coming golfing season

Investors would like to earn a 10% return on the company's $60,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $32,000,000 for the season. About 600,000 rounds of golf are expected to be played each year. Variable costs are about $15 per round of golf. Willow golf course is a price-taker and will not be able to charge more than its competitors, who charge $78 per round of golf. Compute the operating profit that will be earned. A) $5,800,000 B) $6,000,000 C) $87,800,000 D) $46,800,000

Which of the following is the correct formula for the asset turnover ratio?

A) Net sales / Average total assets B) Net sales / Cost of goods sold C) Net sales / Net assets D) Net profit / Net sales