Ida Company produces a handerafted musical instrument called a gamelan that is simlar to a xylophone. The gamelans are sold for \$881. Selected data for the company's operations last year follow. Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] Royal Lawncare Company produces and sells two packaged products - Weedban and Greengrow. Revenue and cost information relating to the products follow: Last year the company produced and sold 41,500 units of Weedban and 17,500 units of Greengrow. Its annual common fixed expenses are $96,000 Required: Required: Prepare a contribution format income statement segmented by product ines. 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 Southem. The Northem Territory recorded $500,000 in sales and $200,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory Fixed expenses of $245,000 and $88,000 are traceable to the Northernand 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-Poks and Tibs. Sales of Paks and Tibs totaled $250,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 21% of the selling price for Paks and 59% for Tibs. Cost records show that $102,500 of the Northern Territory's fixed expenses are traceoble to Paks and $52,500 to Tibs, with the remainder common to the two products. Required: 1-. Prepare contribution format segmented income statements for the total company broken down between sales territories. 1.b. Prepare contribution format segmented income statements for the Northem Territory broken down by product tine. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the total company broken down between sales territories. (Round the percentoge answers to one decimal place (ie . 1234 should be entered as 12.3).) 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 statements for the Northern Territory broken down by product line. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the total company broken down between sales territories, (Round the percentage answers to one decimal place (i.e .1234 should be entered as 12.3).) 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 statements for the Northern Territory broken down by product line. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. (Round the percentag answers to one decimal place (i.e. 1234 should be entered as 12.3).)
