MANAGERIAL ACCOUNTING

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Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales 5 900,000 Variable expenses 400 , 00 0 Contribution margin 500,000 Fixed expenses 450 , 000 Net operating income $ 50 , 00 0 [ Management is disappointed with the company's performance and is wondering what can be done to improve prots. By examining sales and cost records, you have determined the following: a. The company is divided into two sales territoriesNorthern and Southern. The Northern Territory recorded $400,000 in sales and $180,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $160,000 and $150,000 are traceable to the Northern and Southern Territories, respectively. The rest of the xed expenses are common to the two territories. b. The company is the exclusive distributor for two productsPaks and Tibs. Sales of Paks and Tibs totaled $150,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 30% ofthe selling price for Paks and 54% for Tibs. Cost records show that $75,000 of the Northern Territory's xed expenses are traceable to Paks and $57,500 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. 1b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. Req 1A Req 1B Prepare contribution format segmented income statements for the Northern Territory broken down by product line. (Round the percentage answers to one decimal place (i.e .1234 should be entered as 12.3).) Product Line Northern Territory Paks Tibs Amount % Amount % Amount % Sales $ 400,000 $ 150,000 $ 250,000 Variable expenses 30.0 54.0 Contribution margin 400,000 0.0 150,000 (30.0) 250,000 (54.0) Traceable fixed expenses 132,500 75,000 57,500 Product line segment margin 267,500 0.0 $ 75,000 (30.0) $ 192,500 (54.0) Common fixed expenses Sales territory segment margin $ 267,500 0.0Req 1A Req 1B 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).) Sales Territory Total Company Northern Southern Amount % Amount % Amount % Sales $ 900,000 100.0 400,000 $ 500,000 Variable expenses 400,000 180,000 220,000 Contribution margin 500,000 100.0 220,000 0.0 280,000 0.0 Traceable fixed expenses 310,000 160,000 150,000 Territorial segment margin 190,000 100.0 $ 60,000 0.0 $ 130,000 0.0 Common fixed expenses 140,000 $ 50,000 100.0