Answrr last two subparts only Shannon Company segments Its Income statement into Its North and South Divisions. The company's overall sales, contribution marginratio, and net operating income are $490,000, 38%, and $9,800, respectively. The North Division's contribution margin andcontribution margin ratio are $100,800 and 42%, respectively. The South Division's segment margin is $35,000. The company has$68,600 of common fixed expenses that cannot be traced to either division.Required:Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, forthe company as a whole and for each segment, show each item on the segmented Income statements as a percent of sales. (Roundyour percentage answers to 1 decimal place (l.e .1234 should be entered as 12.3).)Total CompanyAmount%AmountNorth%DivisionsAmountSouth% Crossfire Company segments its business Into two regions-East and West. The company prepared a contribution format segmentedIncome statement as shown below:salesVariable expensesContribution marginTraceable fixed expensesSegment marginCommon fixed expensesNet operating incomeRequired:1. Compute the companywide break-even point in dollar sales.2. Compute the break-even point in dollar sales for the East region.Req 1 to 3Total Company$ 1,050,000787,500262,500152,000110,50070,000$ 40,500Req 4Complete this question by entering your answers in the tabs below.East$ 700,000560,0003. Compute the break-even point in dollar sales for the West region.4. Prepare a new segmented Income statement based on the break-even dollar sales that you computed In requirements 2 and 3.What is Crossfire's net operating Income (loss) in your new segmented Income statement?5. Do you think that Crossfire should allocate its common fixed expenses to the East and West regions when computing the break-even points for each region?Req 5Dollar sales for the whole companyDollar sales for the East regionDollar sales for the West region140,00061,000$ 79,0001. Compute the companywide break-even point in dollar sales.2. Compute the break-even point in dollar sales for the East region.3. Compute the break-even point in dollar sales for the West region.(Round intermediate calculations to 2 decimal places)Break-Even pointWest$ 350,000227,500122,50091,000$ 31,500Show less ACrossfire Company segments its business Into two regions-East and West. The company prepared a contribution format segmentedIncome statement as shown below:SalesVariable expensesContribution marginTraceable fixed expensesSegment marginCommon fixed expensesNet operating incomeReq 1 to 3Required:1. Compute the companywide break-even point in dollar sales.2. Compute the break-even point in dollar sales for the East region.3. Compute the break-even point in dollar sales for the West region.4. Prepare a new segmented Income statement based on the break-even dollar sales that you computed in requirements 2 and 3.What is Crossfire's net operating Income (loss) in your new segmented Income statement?5. Do you think that Crossfire should allocate its common fixed expenses to the East and West regions when computing the break-even points for each region?Complete this question by entering your answers in the tabs below.Reg 4Total Company$ 1,050,000787,500262,500152,000110,50070,000$ 40,500Req 5East$ 700,000560,000140,00061,000$ 79,000SalesVariable expensesContribution marginTraceable fixed expensesProduct line segment marginCommon fixed expenses not traceable to productsNet operating lossWest$ 350,000227,500122,50091,000$ 31,500Prepare a new segmented income statement based on the break-even dollar sales that you computed in requirements 2 and3. What is Crossfire's net operating income (loss) in your new segmented income statement?Total CompanyEastWest

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2. Compute the break-even point in dollar sales for the East region. 3. Compute the break-even point in dollar sales for the West region. 4. Prepare a new segmented income statement based on the break-even dollar sales that you computed in requirements 2 and 3. What is Crossfire's net operating income (loss) in your new segmented income statement? 5. Do you think that Crossfire should allocate its common fixed expenses to the East and West regions when computing the break-

2. Compute the break-even point in dollar sales for the East region. 3. Compute the break-even point in dollar sales for the West region. 4. Prepare a new segmented income statement based on the break-even dollar sales that you computed in requirements 2 and 3. What is Crossfire's net operating income (loss) in your new segmented income statement? 5. Do you think that Crossfire should allocate its common fixed expenses to the East and West regions when computing the break-

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,050,000, 40%, and $21,000, respectively. The North Division's contribution margin and contribution margin ratio are $154,000 and 44%, respectively. The South Division's segment margin is $175,000. The company has $262,500 of common fixed expenses that cannot be traced to either division. Required: Prepare a segmented income statement for Shannon Company using the contribution format. For the company as a whole and for each division, show each item on the segmented income statements as a percent of sales. Note: Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3). Total Company Amount % Amount North % Divisions Amount South %
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 $780,000, 46%, and $15,600, respectively. The North Division's contribution margin and contribution margin ratio are $140,000 and 50%, respectively. The South Division's segment margin is $90,000. The company has $140,400 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).) Divisions Total Company North South Amount % Amount % Amount %
ABC Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $790,000, 48%, and $15,800, respectively. The North Division's contribution margin and contribution margin ratio are $150,800 and 52%, respectively. The South Division's segment margin is $95,000. The company has $150,100 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for ABC 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 .1234 should be entered as 12.3).) Total Company Amount % Amount Q Search North % Divisions Saved Amount
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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 $480,000, 36%, and $9,600, respectively. The North Division's contribution margin and contribution margin ratio are $92,000 and 40%, respectively. The South Division's segment margin is $32,500. The company has $62,400 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 .1234 should be entered as 12.3).) Divisions Total Company North South Amount % Amount % Amount
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Dukelow Corporation has two divisions: the Governmental Products Division and the Export Products Division. The Governmental Products Division's divisional segment margin is $37,300 and the Export Products Division's divisional segment margin is $89,700. The total amount of common fixed expenses not traceable to the individual divisions is $100,400. What is the company's net operating income (loss)?
Michaels Company segments its income statement into its East and West Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $600,000, 50%, and $50,000, respectively. The West Division’s contribution margin and contribution margin ratio are $150,000 and 75%, respectively. The East Division’s segment margin is $70,000. The company has $60,000 of common fixed costs that cannot be traced to either division. Required: Prepare an income statement for Michaels 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.
Shirley Incorporated has three divisions, King, West and Gold. All common fixed costs are unavoidable. Following is the segmented income statement for the previous year: Sales revenue Variable costs Contribution margin Direct fixed costs Segment margin Common fixed costs (allocated) Net operating income (loss) King $ 1,036,000 310,800. $ 725,200 103,600 $621,600 394,000 $227,600 West $ 580,000 324,800 $ 255,200 38,000 $217,200 209,625 $7,575 Required: a. What would Shirley's net income (loss) be if the West Division were dropped? b. What would Shirley's net income (loss) be if the Gold Division were dropped? Complete this question by entering your answers in the tabs below. Required A Required B What would Shirley's net income (loss) be if the West Division were dropped? Gold $430,000 253,700 $ 176,300 50,000 $ 126,300 156,375 $ (30,075) Total $2,046,000 889,300 $1,156,700 191,600 $965,100 760,000 $ 205,100
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