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Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results. Sales Hardware $
Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results. Sales Hardware $ 690,000 Software $ 720,000 Variable costs (as a percentage of sales). Traceable fixed costs 40% 45% $ 250,000 $ 125,000 In addition, fixed costs common to both divisions amounted to $212,000. Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each division. (Round percentage answers to 2 decimal place. i.e. 0.1234 should be considered as 12.34%.)
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