Question
Jacob's Florists categorizes their sales into three segments: Bouquets, Table Arrangements, Holiday Specialties. Their most recent fiscal year ended in December, 2020. The company had
Jacob's Florists categorizes their sales into three segments: Bouquets, Table Arrangements, Holiday Specialties. Their most recent fiscal year ended in December, 2020. The company had $120,000 of common fixed expenses. Using the following information, prepare a segmented income statement by segment and in total for the company:
Bouquets: sales $58,000, traceable fixed expenses are 25% of sales
Table Arrangements: sales $175,000, traceable fixed expenses are 38% of sales
Holiday Specialties: sales $223,000, traceable fixed expenses are 56% of sales
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