Question
Current Attempt in Progress Monty, Ltd., manufactures boats and personal watercraft. The company operates three separate divisions: yachts, sailboats, and jet skis. The company's latest
Current Attempt in Progress Monty, Ltd., manufactures boats and personal watercraft. The company operates three separate divisions: yachts, sailboats, and jet skis. The company's latest income statement is presented by product line as follows: Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Allocated corporate costs Operating income (a) Yachts Yachts $62,848,000 30,161,000 9,004,000 23,683,000 8,011,000 4,026,000 3,010,000 Sailboats. $ 23,810,000 $ 6,447,000 13,450,000 Sailboats 5,000,000 Q Search 5,360,000 1,510,000 1,030,000 $ 8,636,000 $ 805,000 2,015,000 Jet Skis 3,696,000 702,000 2,049,000 851,000 348,000 1,010,000 $ (160,000 ) $ Total $93,105,000 Jet Skis 47,307,000 14,706,000 31,092,000 10,372,000 Prepare a segment margin income statement showing each of the three divisions. Fixed cost of goods sold and fixed operating expenses can be traced to each product line. (If the amount is negative then enter with a negative sign preceding the number, e.g. -5,125 or parenthesis, e.g. (5,125).) 5,404,000 6,035,000 9,281,000 Total 6:54 P 6/11/20
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