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...

Question

Question

Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution m

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 segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (I.e. 0.1234 should be entered as 12.3).) Answer is not complete. Total Company North South Amount Amount Amount 01,020,000 ク10 100.0야 340,000이 62.00 142,800 100.0야 680,000이 20 489,600372.0 100.00 Sales Variable expenses Contribution margin,6380197,200 632,400 58.0 190,400 28.0 Traceable fixed Territorial segment Common fixed Net operating income 122,400 12.0 95.2000 28.00 27,200 3 ク|265,200. 26,001 102,000. 30.0.163.200. 24.00 244,800

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Divisions Total Company Amount 1020000 100.0% 340000 100.0% 680000 100.0% North Division South Division % Amount | % Amount | Calculation contribution Margin - sale * CM Ratio Variable Expesnes - Sales - CM Total Company 387600 632400 Segmented Margin Note : For Any Further Clarification Plases Use the Comment Box.Thank You Very much

Add a comment

Answer 2

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...

Homework Answers

Add Answer to:
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...

Post as a guest

Earn Coins