Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer on an excel sheet please. thanks Vulcan Company's contribution format income statement for June Is as follows: Vulcan Company Income Statement For the Month

answer on an excel sheet please. thanks image text in transcribed
image text in transcribed
image text in transcribed
Vulcan Company's contribution format income statement for June Is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales Variable expenses Contribution margin Fixed expenses Het operating income $ 900,000 400.000 500,000 475.000 $ 25,000 Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following: a. The company is divided into two sales territories --Northern and Southern The Northern Territory recorded $400,000 in sales and $160,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory, Fixed expenses of $176,000 and $140,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories b. The company is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $140,000 and $260,000, respectively, in the Northern territory during June. Variable expenses are 27% of the selling price for Paks and 47% for Tibs. Cost records show that $67,200 of the Northern Territory's fixed expenses are traceable to Poks and $57,200 to Tibs, with the remainder common to the two products. Required: 1-a. Prepare contribution format segmented income statements for the total company broken down between sales territories 1-5. Prepare contribution format segmented income statements for the Northern Territory broken down by product line Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Prepare contribution format segmented Income statements for the total company broken down between sales territories (Round the percentage answers to one decimal place (ie 1234 should be entered as 12.3).) Sales Territory Total Company Northern Southem % Amount Amount Amount RA Reg 1B > Complete this question by entering your answers in the tabs below. Req 1A Req 18 Prepare contribution format segmented income statements for the Northern Territory broken down by product line. (Round the percentage answers to one decimal place le 1234 should be entered as 12.3).) Product Line Tibs Northern Territory Amount % Paks Amount % Amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions