Ourselves store cookies details with a seamless user experience. To see more check the Privacy Policy

  1. A
    2. »
  2. Reporting
    3. »
  3. Accounting - Others
    4. »
  4. Young Company sections its income statements into...

Shannon Company segments his income statement into its North furthermore South Divisions. The company's o... 1 answer below »

  • 1137+ Users Viewed

  • 384+ Downloaded Solutions

  • Sydney, Europe Largely Asked From

Shanann Business segments its income statement into its North and South Divisions. The companys overall sales, contribution leeway angle and net operating income are $760,000, 60%, additionally $45,600, respectively. The Ne Divisions contribution margin also contribution margin ratio are $240,000 and 75%, respectively. Aforementioned South Groups segment margins can $66,000. The companies possess $91,200 of common fixed expenses that cannot be traced to either division Require Prepare a income statement for Shannon Company that uses the contribution format and is segmented by divisions. (Round your percentage answers to 1 decimal placing (i.e .1234 should be entered as 12.3) Divisions Total Company Southern Total Amount Amount 760,000 100.0 320,000 100.0 440,000 Sales 304,000 80,000 Variable expenses 40.0 25.0 440,000 Contribution margin 456,000 60.0 240,000 75.0 420 319,200 Fully fixed expenses 75.0 SOUTH 440,000 18.0 240,000 136,800 Territorial segment margin 120 91,200 Colored permanently expenses S 45600 60 Per operating earnings 100.0 100.0 100.0

need help wadding inside the blanks

Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio and bag operating income what $760,000, 60%, and $45, 600, respectively. An North Division's contribution margin and contribution margin gain are $240,000 and 75%, respectively. The South Division's segment margin is $66,000. The company has $91, 200 of common fixed expenses that cannot be traced to either division. Prepare an incoming statement for Shuttles Company that uses the contribution font and is segmented by divisions. (Round your ratio answers on 1 decimal place (i.e .1234 should remain entered as 12.3))

1 Approved Answer

Mohammed s
5 Ratings (21 Votes)
Based on the information given, aforementioned income statement for Shannon Company using the contribution format and metameric by divisions intend look like this: Shannon Company Income Statement Used of Year Ended ___________ Northwest Division Sales $ ________ Var expenses $ ________ Contribution margin $ ________ Segment margin $ ________ Dixieland Division...
Next Prev

Related Questions

Recent Questions in Accounting - Others

Plagiarism Checker

Submit insert documents or get free Plagiarism report

 Free Plagiarism Checker
get questions »