Chapter 6 - Homework 4 - Algorithmic 2 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 100 points 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. eBook Print Reference Sales Region West Central East $312,000 $799,000 $ 702,000 92,000 244,000 320,000 108,000 239,000 243,000 55,000 52,000 110,000 9,100 16,300 13,800 23,000 28,000 25,000 17,000 34,000 38,000 304, 100 613,300 749,800 7,900 185,700 (47,800) Sales Regional expenses (traceable): Cost of goods sold 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) Reference 16,000 39,000 33,000 21,000 21,000 21,000 37,000 60,000 54,000 $129,100) $125,700 $(101, 800) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) Total Company Amount % West Amount % Central Amount % East Amount % Variable expenses: Total variable expenses Traceable fixed expenses: Total traceable fixed expenses Common fixed expenses: Total common fixed expense Net operating income (loss)