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Hi, I need Accounting help please Segmented Income Statement Gorman Nurseries Inc. grows poinsettias and fruit trees in a greenhouseursery operation. The following information was
Hi, I need Accounting help please
Segmented Income Statement Gorman Nurseries Inc. grows poinsettias and fruit trees in a greenhouseursery operation. The following information was provided for the coming year. Poinsettias Fruit Trees 970,000 Sales 2,720,000 460,000 1,630,000 variable cost of goods sold 200,000 160,000 Direct fixed overhead two lines. A sales commission of 4% of sales is paid for each of the product Direct fixed selling and administrative expense was estimated to be $146,000 for the poinsettia line and $87,000 for the fruit tree line. Common fixed overhead for the nursery operation was estimated to be be $800,000; common selling and administrative expense was estimated to $450,000. Required: Prepare a segmented income statement for Gorman Nurseries for the coming year, using variable costing
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