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Jim Coston was reviewing the latest income statement for Trenton Communications. For the second year in...
Trent Weaver was reviewing the latest income statement for Taryn Enterprises. For the second year in...
Trent Weaver was reviewing the latest income statement for Taryn Enterprises. For the second year in a row, the Collectibles division was showing a negative segment margin, and Trent thought it was time to close the division to increase the company’s operating income. The income statement that he examined follows. promotions division collectibles division total sales revenue $5,300,000 $2,860,000 $8,160,000 less variable exp 3,650,000 1,645,000 5,295,000 contribution margin 1,650,000 1,215,000 2,865,000 less traceable fixed exp 943,000 1,275,000 2,218,000 segment...
Wildhorse Optics manufactures two products: microscopes and telescopes. Information for each product is as follows. Sales...
Wildhorse Optics manufactures two products: microscopes and telescopes. Information for each product is as follows. Sales price Sales volume Variable cost per unit Annual traceable fixed expenses Annual allocated common fixed expenses Microscopes Telescopes $ 32 $ 51 404,921 176,300 $ 16 $ 20 $ 3,006,400 $3,508,600 $ 2,007,500 $2,004,100 Prepare a segment margin income statement for Wildhorse Optics that provides detail on both the product lines and the company as a whole. (If the amount is negative then enter...
Shoe Shock Innovations manufactures athletic shoe inserts that cushion the foot and reduce the impact of...
Shoe Shock Innovations manufactures athletic shoe inserts that cushion the foot and reduce the impact of exercise on the joints. The company has two divisions, Sole Inserts and Heel Inserts. A segmented income statement from last month follows. Sole Inserts Division Heel Inserts Division Total Shoe Shock Sales revenue $499,700 318,000 Less variable expenses $2,533,000 $3,032,700 2,049,000 2,367,000 484,000 665,700 Contribution margin 181,700 Less traceable fixed expenses 124,100 349,700 473,800 Segment margin $57,600 $134,300 191,900 Common fixed costs 174,000 Net...
Assume a company with two divisions (A and B) prepared the following segmented income statement: Sales...
Assume a company with two divisions (A and B) prepared the following segmented income statement: Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income A $ ? 120,000 ? 100,000 $ ? B $ 200,000 140,000 ? 80,000 $ (20,000 What is Division A's segment margin? Multiple Choice O $53,000 $13,000 $72,700 100,000 $ ? 80,000 $ (20,000 $ Traceable fixed expenses Segment margin Common fixed expenses Net operating income What is Division...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales,...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,020,000, 38%, and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42%, respectively. The South Division's segment margin is $163,200. The company has $244,800 of common fixed expenses that cannot be traced to either division. 3.07 points Required: Prepare an income statement for Shannon Company that uses the contribution format...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,020,000, 38%, and $20,400...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,020,000, 38%, and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42%, respectively. The South Division's segment margin is $163,200. The company has $244,800 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is...
EXERCISE 6-7 Segmented Income Statement [LO6-4 Shannon Company segments its income statement into its North and...
EXERCISE 6-7 Segmented Income Statement [LO6-4 Shannon Company segments its income statement into its North and South Divisions. The pany's overall sales, contribution margin ratio, and net operating income are $500,000 46%, and S10,000, respectively. The North Division's contribution margin and contribution margin ratio $150,000 and 50%, respectively. The South Division's segment margin is $30,000. The company has $90,000 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses...
Niangua Co. is divided into three segments and is interested in preparing a segmented income statement...
Niangua Co. is divided into three segments and is interested in preparing a segmented income statement in order to better understand the operating performance of each segment. Fixed expenses in each division currently include an allocation of general corporate expenses equal to 20% of the division's sales. Division 1 Division 2 Division 3 Sales $ 320,000 $ 200,000 $ 280,000 Variable expenses 208,000 120,000 152,000 Contribution margin $ 112,000 $ 80,000 $ 128,000 Fixed expenses 80,000 88,000 72,000 Net income...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales,...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $680,000, 60%, and $40,800, respectively. The North Division's contribution margin and contribution margin ratio are $210,000 and 75%, respectively. The South Division's segment margin is $58,000. The company has $68,000 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is...
urgentt help me Hwk - Segments Saved 2 Exercise 6-7 Segmented Income Statement [LO6-4) 1.16 points...
urgentt help me
Hwk - Segments Saved 2 Exercise 6-7 Segmented Income Statement [LO6-4) 1.16 points Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $640,000, 60%, and $64,000, respectively. The North Division's contribution margin and contribution margin ratio are $195,000 and 75%, respectively. The South Division's segment margin is $54,000. The company has $76,800 of common fixed expenses that cannot be traced to either...
Wildhorse Optics manufactures two products: microscopes and telescopes. Information for each product is as follows. Sales price Sales volume Variable cost per unit Annual traceable fixed expenses Annual allocated common fixed expenses Microscopes Telescopes $ 32 $ 51 404,921 176,300 $ 16 $ 20 $ 3,006,400 $3,508,600 $ 2,007,500 $2,004,100 Prepare a segment margin income statement for Wildhorse Optics that provides detail on both the product lines and the company as a whole. (If the amount is negative then enter...
Shoe Shock Innovations manufactures athletic shoe inserts that cushion the foot and reduce the impact of exercise on the joints. The company has two divisions, Sole Inserts and Heel Inserts. A segmented income statement from last month follows. Sole Inserts Division Heel Inserts Division Total Shoe Shock Sales revenue $499,700 318,000 Less variable expenses $2,533,000 $3,032,700 2,049,000 2,367,000 484,000 665,700 Contribution margin 181,700 Less traceable fixed expenses 124,100 349,700 473,800 Segment margin $57,600 $134,300 191,900 Common fixed costs 174,000 Net...
Assume a company with two divisions (A and B) prepared the following segmented income statement: Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income A $ ? 120,000 ? 100,000 $ ? B $ 200,000 140,000 ? 80,000 $ (20,000 What is Division A's segment margin? Multiple Choice O $53,000 $13,000 $72,700 100,000 $ ? 80,000 $ (20,000 $ Traceable fixed expenses Segment margin Common fixed expenses Net operating income What is Division...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,020,000, 38%, and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42%, respectively. The South Division's segment margin is $163,200. The company has $244,800 of common fixed expenses that cannot be traced to either division. 3.07 points Required: Prepare an income statement for Shannon Company that uses the contribution format...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,020,000, 38%, and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42%, respectively. The South Division's segment margin is $163,200. The company has $244,800 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is...
EXERCISE 6-7 Segmented Income Statement [LO6-4 Shannon Company segments its income statement into its North and South Divisions. The pany's overall sales, contribution margin ratio, and net operating income are $500,000 46%, and S10,000, respectively. The North Division's contribution margin and contribution margin ratio $150,000 and 50%, respectively. The South Division's segment margin is $30,000. The company has $90,000 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses...
Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $680,000, 60%, and $40,800, respectively. The North Division's contribution margin and contribution margin ratio are $210,000 and 75%, respectively. The South Division's segment margin is $58,000. The company has $68,000 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is...
urgentt help me
Hwk - Segments Saved 2 Exercise 6-7 Segmented Income Statement [LO6-4) 1.16 points Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $640,000, 60%, and $64,000, respectively. The North Division's contribution margin and contribution margin ratio are $195,000 and 75%, respectively. The South Division's segment margin is $54,000. The company has $76,800 of common fixed expenses that cannot be traced to either...
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