Data for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 759,000 $ 440,500 $ 90,900 $ 586,800 $ 334,900 $ 76,000 In addition, common fixed expenses totaled $206,000 and were allocated as follows: $107,000 to the North business segment and $99,000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
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- Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 20Y6, are as follows: cost of merchandise sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000. Prepare a single-step income statementData for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 660,000 $ 383,000 $ 79,000 $ 510,000 $291,000 $ 66,000 In addition, common fixed expenses totaled $179,000 and were allocated as follows: $93,000 to the North business segment and $86,000 to the South business segment. The contribution margin of the South business segment isSummary operating data for Custom Wire & Tubing Company during the year ended April 30, 20Y2, are as follows: cost of goods sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000. Prepare a single-step income statement.
- Tubaugh Corporation has two major business segments-East and West. In December, the East business segment had sales revenues of $390,000, variable expenses of $210,000, and traceable fixed expenses of $46,000. During the same month, the West business segment had sales revenues of $1,060,000, variable expenses of $540,000, and traceable fixed expenses of $203,000. The common fixed expenses totaled $314,000 and were allocated as follows: $157,000 to the East business segment and $157,000 to the West business segment. The contribution margin of the West business segment is: Multiple Choice $520,000 O $(39,000) O $717,000 O $134,000In the income statement for the current year, JK Company reported revenue P50,000,000, excluding intersegment sales P10,000,000, expenses P47,000,000 and net income P3,000,000. Expenses included payroll costs of P15,000,000. The combined identifiable assets of all operating segments at year-end totaled P40,000,000. What is the minimum amount of sales to be a major customer?Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240.Prepare a multistep income statement for distribution to external financial statement users.
- Tubaugh Corporation has two major business segments--East and West. In December, the East business segment had sales revenues of $400,000, variable expenses of $215,000, and traceable fixed expenses of $47,000. During the same month, the West business segment had sales revenues of $1,070,000, variable expenses of $544,000, and traceable fixed expenses of $205,000. The common fixed expenses totaled $318,000 and were allocated as follows: $159,000 to the East business segment and $159,000 to the West business segment. The contribution margin of the West business segment is: $526,000 $(35,000) $729,000 $138,000Sellall Department Stores reported the following amounts as of its December 31 year- end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income StatementSpiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below: Sales revenues, Apparel $ 735,000 Variable expenses, Apparel $ 342,000 Traceable fixed expenses, Apparel $ 174,000 Sales revenues, Accessories $ 777,000 Variable expenses, Accessories $ 426,000 Traceable fixed expenses, Accessories $ 125,000 Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and $246,000 to the Accessories business segment. Required: Prepare a segmented income statement in the contribution format for the company.
- Lunox Corporation is composed of two major subunits: Wholesale and Retail. In December, Retail reported sales revenues - P730,000, variable expenses - P409,000, and traceable fixed expenses of P117,000. On the other hand, Wholesale reported sales revenues - P400,000, variable expenses - P220,000, and traceable fixed expenses of P48,000. Common fixed expenses totaled P218,000 and were allocated as follows: P122,000 to the Retail business segment and P96,000 to the Wholesale business segment. What is the segment margin % of the less profitable segment in terms of absolute pesos? Answer format = two decimal points with percentage symbol (i.e. 10.00%)Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $ 2,580,000 $3,550,000 Cost of goods sold 1,578,960 1,938,300 Selling expenses 304,440 546,700 Administrative expenses 397,320 440,200 Income tax expense 134,160 198,800 A. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round your percentages answers to one decimal place. Enter all amounts as positive numbers. B. Comment on the significant changes disclosed by the comparative income statement.Lunox Corporation is composed of two major subunits: Wholesale and Retail. In December, Retail reported sales revenues - P730,000, variable expenses - P409,000, and traceable fixed expenses of P117,000. On the other hand, Wholesale reported sales revenues - P400,000, variable expenses - P220,000, and traceable fixed expenses of P48,000. Common fixed expenses totaled P218,000 and were allocated as follows: P122,000 to the Retail business segment and P96,000 to the Wholesale business segment. What is the segment margin % of the less profitable segment in terms of absolute pesos? Answer format = two decimal points with percentage symbol