Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Name Weekly Check-in Assignment Segment Reporting Below is the contribution format income statement for Hawkins Industries, segmented by Sales Territory. Sales Territory Total Company Central

image text in transcribed

Name Weekly Check-in Assignment Segment Reporting Below is the contribution format income statement for Hawkins Industries, segmented by Sales Territory. Sales Territory Total Company Central Eastern Sales $900,000 100.0% $400,000 100.0% $500,000 100.0% Variable expenses 408,000 45.3% 208,000 52.0% 200,000 40.0% Contribution margin 492,000 54.7% 192,000 48.0% 300,000 60.0% Traceable fixed expenses 290,000 32.2% 160,000 40.0% 130,000 26.0% Territorial segment margin 202,000 22.4% $32,000 8.0% $170,000 34.0% Common fixed expenses 175,000 19.4% Net operating income $27,000 3.0% Hawkins Industries would like a report for the Central Territory further segmented by Product Line. Here is the information for the the two products sold in the Central Territory: Awls sales Pows sales Awls variable expenses Pows variable expenses Awls traceable fixed expenses Pows traceable fixed expenses $100,000 $300,000 25% of sales 61% of sales $60,000 $54,000 Enter a formula or cell reference in every yellow cell. Use the segment report above as your guide. Product Line Central Territory Awls Pows Sales Variable expenses Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses Net operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions