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Bharat Curry Foods (BCF) prepares and sells frozen curry dinners. The company reported the following year operating results for 20X1, in which there were no
Bharat Curry Foods (BCF) prepares and sells frozen curry dinners. The company reported the following year operating results for 20X1, in which there were no inventories of dinners at the beginning and end of the BHARAT CURRY FOODS Income Statement For the Year Ended December 31, 20X1 Sales Cost of goods sold $ 960,000 554,000 Gross margin Seling and administrative expenses 406,000 259,000 Operating income $147,000 BCF sells two types of curry foods-chicken and lamb-and operates in Ontario and western Canada Information on sales and costs is as follows Chicken Lamb Total Regional sales percentage of national sales Ontario Western Canada 33% 21 22% 24 55% 45 Total 54% 46% 100% Costs as percentage of regional sales Variable production costs Variable selling expenses 44% 11% 44% 11% Fixed costs by product $ 65,000 Remainder of total costs $ 65,000 $ 130,000 Traceable fixed expenses Common fixed costs The following information is for lamb products only: Ontario Western Costs as percentage of regional lamb sales Variable production costs Variable selling expenses 51% 10% 37.58% 12% Fixed costs by region Traceable fixed expenses $ 26,000 39,000 $ 65,000 1. Prepare, in good form, an income statement segmented by product line, showing the corresponding company totals. Use Exhibit 12-3 as a guide. (Round "Percentage" answers to 2 decimal places (i.e., 0.1234 should be considered as 12.34%). Round your answers to nearest dollar amount.)
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