716 points Skipped ebook References Problem 6-26 (Algo) Restructuring a Segmented Income Statement [LO6-4] 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 Regional expenses (traceable): Cost of goods sold i Advertising Salaries Utilities. Depreciation Shipping expense Total regional expenses Regional income (loss) before corporate expenses Corporate expenses: Advertising (general) General administrative expense Total corporate expenses Net operating income (loss) $311,000 Hest Sales Region Central $796,000 East $ 701,000 90,000 106,000 244,000 312,000 241,000 239,000 57,000 60,000 112,000 8,600 15,700 14,000 18,000 29,000 20,000 16,000 27,000 43,000 295,600 616,700 748,000 15,400 179,300 (47,000) 13,000 37,000 32,000 18,000) 18,000 31,000 55,000 15,000 50,000 $ (15,600) $ 124,300 $ (97,000) The cost of goods sold and shipping expense are both variable. All other costs are fixed. 7 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) 736 points Variable expenses Sopped ebook Total Company Amount West Central East % Amount % Amount % Amount References Total variable expenses 0 00 0 00 0 00 0 00 0 0.0 00 00 0 00 Traceable fixed expenses Mc Total traceable fixed expenses 00 0 00 0 00 0 00 0 00 $ 0 00 $ 0 00 $ 0 00 Common fixed expenses Prav 7 of 7 Next Total traceable fixed expenses 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 $ 0 0.0 $ 0 0.0 $ 0 00 Common fixed expenses: Total common fixed expense 0 0.0 Not operating income (loss) $ 0 0.0 < Prev 7 of 7 Next >