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Problem 7.21 (Algo) Segment Reporting and Decision-Making [LO7-4] Vulesn Cormpanyle contribution formet incorne stetement for June is as followis: Manegement is disappointed with the compbny's performance and is wondering what con be done to improve profits. By examining sales and coot records, you have determined the following a. The company is divided into two sales territories-Northern and Southern. The Northern Territory recorded 5400,000 in sales arid \$168,000 in varieble expenses during Junt, the remaining sales and variable expenses were tecorded in the Southern Territory. Fixed expenses of $212,000 ond $130,000 are traceable to the Northern ond Southern Territories, respectively The rest of the fixed expenses are common to the two territories. b. The company is the exelusive distributor for two products-Paks and Tibs. Soles of Paks and Tibs totaled 5200,000 and 5200,000 . respectively, in the Northem territory during June. Variable expenses are 25% of the selling price for Paks and 59% for Tibs. Cost records show thet $90,000 of the Northern Territory's fixed expenses are traceable to Paks and $40,000 to Tibs, with the remainder common to the two products. Required: T-e. Prepore contribution format segmented income stotements for the total company broken down between sales territories. 1-b. Prepere contribution format segmented income statements for the Northern Territory broken down by product line. Complete this questien by entering your answers in the tabs below. Prepare contribution fosmat segmented income statements for the Northern Territory broken down by product line. (Round the pescentage assmers to one decimal phop (ie 1234 should be eritered as 12.3).) Problem 7-21 (Algo) Segment Reporting and Decision-Making [LO7-4] Vulcan Compeny's contribution format income statement for June is os follows: Monagement is disoppointed with the company's performonce and is wondering whet can be done to improve profits. By exarnining. sales and cost records, you have determined the following. 4. The company is divided into two sales territories-Northern and Southern. The Northern Territory fecorded S400.000 in sales and S168,000 in veriable expenses during June, the remaining sales and voriable expenses were recorded in the Southern Territory. Fixed expenses of $212,000 and $130,000 are tracebble to the Northern and Southern Territories, respectively. The rest of the fuxed expenses sre common to the two territories b. The compeny is the exelusive distributor for two products-Paks and Tibs. Soles of Paks and Tibs totaled 5200.000 and 5200,000 . respectively, in the Northem territory during June. Varibble expenses are 25% of the selling price for Paks and 59% for Tibs. Cost tecords show that 590,000 of the Northern Territory's fixed expenses are uraceable to Paks and 540,000 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-b. Prepare contribution format segmented income stetements for the Northern Territory broken down by product line. Complete this question by entering your answers in the tabs below. Prepare contribution format seqmented income stoternents for the total company broken down between sales territories. (Round the percentage answers to one decirnal place (ie -1234 should be entered as 12.3))