Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and d...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company’s first effort at preparing a segmented income statement for May is given below.
| Sales Region | |||
| West | Central | East | |
| Sales | $311000 | $805,000 | $702,000 |
| Regional expenses (traceable): | |||
| Cost of goods sold | 100,000 | 239,000 | 318,000 |
| Advertising | 101,000 | 238,000 | 241,000 |
| Salaries | 54,000 | 57,000 | 106,000 |
| Utilities | 9,300 | 15,700 | 13,800 |
| Depreciation | 19,000 | 28,000 | 28,000 |
| Shipping expense | 15,000 | 27,000 | 39,000 |
| Total regional expenses | 298,300 | 604,700 | 745,800 |
| Regional income (loss) before corporate expenses | 12,700 | 200,300 | (43,800) |
| Corporate expenses: | |||
| Advertising (general) | 17,000 | 41,000 | 36,000 |
| General administrative expense | 21,000 | 21,000 | 21,000 |
| Total corporate expenses | 38,000 | 62,000 | 57,000 |
| Net operating income (loss) | $(25,300) | $138,300 | $(100,80 |
The cost of goods sold and shipping expense are both variable. All other costs are fixed.
Required:
3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.)
Homework Answers
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Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and d...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products f...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and d...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West, Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff. The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
Millard Corporation is a wholesale distributor of office
products. It purchases office products from manufacturers and
distributes them in the West, Central, and East regions. Each of
these regions is about the same size and each has its own manager
and sales staff.
The company has been experiencing losses for many months. In an
effort to improve performance, management has requested that the
monthly income statement be segmented by sales region. The
company’s first effort at preparing a segmented income...
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