J.M. Smucker included the following information in its April 20 $ millions Apr. 30, 2019 Apr. 30, 2018 $8,151.5 214.2 127.0 939.3 2,294.3 334.7 3,695.3 (1,684.5) $2.010.8 Sales Depreciation expense Land Buildings and fixtures Machinery and equipment Construction in progress Gross property, plant, and equipment Accumulated depreciation Total property plant and equipment $124.9 845.1 2,217.1 220.6 3,407.7 (1,588.3) $1.819.4

Cornerstones of Financial Accounting
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Chapter7: Operating Assets
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Computing Asset Related Ratios
J.M. Smucker included the following information in its April 2019 10-K.
$ millions
Apr. 30, 2019 Apr. 30, 2018
$8,151.5
214.2
127.0
939.3
2,294.3
334.7
3,695.3
(1,684.5)
$2,010.8
Sales
Depreciation expense
Land
Buildings and fixtures
Machinery and equipment
Construction in progress
Gross property, plant, and equipment
Accumulated depreciation
Total property, plant, and equipment
$124.9
845.1
2,217.1
220.6
3,407.7
(1,588.3)
$1,819.4
a. Compute PPE turnover for fiscal year ended April 30, 2019.
Round answer to one decimal place.
0
x
b. Compute the average useful life of depreciable assets at April 30, 2019.
Round answer to one decimal place.
0
x years
c. Compute the percentage used up of the PPE at April 30, 2019.
Round answer to one decimal place (ex: 0.2345 = 23.5%)
0
* %
Transcribed Image Text:Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 $8,151.5 214.2 127.0 939.3 2,294.3 334.7 3,695.3 (1,684.5) $2,010.8 Sales Depreciation expense Land Buildings and fixtures Machinery and equipment Construction in progress Gross property, plant, and equipment Accumulated depreciation Total property, plant, and equipment $124.9 845.1 2,217.1 220.6 3,407.7 (1,588.3) $1,819.4 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. 0 x b. Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. 0 x years c. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 = 23.5%) 0 * %
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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