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I did most of the work but am having trouble finding the percents... please help! Vulcan Company's contribution format income statement for June is given
I did most of the work but am having trouble finding the percents... please help!
Vulcan Company's contribution format income statement for June is given below: Vulcan Company Income Statement For the Month Ended June 30 Sales 900,000 Variable expenses 408,000 492,000 Contribution margin 480,000 Fixed expenses 12,000 Net operating income Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following a. The company is divided into two sales territories-Northern and Southern. The Northern Territory recorded $400,000 in sales and $208,000 in variable expenses during June, the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $180,000 and $145,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories. b. The company is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $160,000 and $240,000, respectively, in the Northern territory during June. Variable expenses are 28% of the selling price for Paks and 68% for Tibs. Cost records show that $78,400 of the Northern Territory's fixed expenses are traceable to Paks and $55.200 to Tibs, with the remainder common to the two productsStep by Step Solution
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