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please show your works Championship Sports Inc. operates two divisionsthe Winter Sports Division and the Summer Sports Division. The following income and expense accounts were

please show your works

Championship Sports Inc. operates two divisionsthe Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31, 20Y9, the end of the fiscal year, after all adjustments, including those for inventories, were recorded and posted:

SalesWinter Sports Division $27,667,500
SalesSummer Sports Division 30,566,000
Cost of Goods SoldWinter Sports Division 16,600,500
Cost of Goods SoldSummer Sports Division 17,654,500
Sales ExpenseWinter Sports Division 4,743,000
Sales ExpenseSummer Sports Division 4,216,000
Administrative ExpenseWinter Sports Division 2,766,800
Administrative ExpenseSummer Sports Division 2,714,100
Advertising Expense 976,000
Transportation Expense 540,000
Accounts Receivable Collection Expense 202,300
Warehouse Expense 2,635,000

The bases to be used in allocating expenses, together with other information, are as follows:

  1. Advertising expenseincurred at headquarters, allocated to divisions on the basis of usage: Winter Sports Division, $458,000; Summer Sports Division, $518,000.
  2. Transportation expenseallocated to divisions at a rate of $18 per bill of lading: Winter Sports Division, 14,300 bills of lading; Summer Sports Division, 15,700 bills of lading.
  3. Accounts receivable collection expenseincurred at headquarters, allocated to divisions at a rate of $7 per invoice: Winter Sports Division, 13,300 sales invoices; Summer Sports Division, 15,600 sales invoices.
  4. Warehouse expenseallocated to divisions on the basis of floor space used in storing division products: Winter Sports Division, 150,000 square feet; Summer Sports Division, 190,000 square feet.

Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division. Do not round your interim calculations. (I have already done this part)

image text in transcribed

Provide supporting schedules for determining support department allocations. If required, round per unit amounts to two decimal places and final answers to the nearest dollar.

Championship Sports Inc.
Support Department Allocations
For the Year Ended December 31, 20Y9
Winter Sports Division Summer Sports Division Total
Advertising expense
Transportation rate per bill of lading
Number of bills of lading
Transportation expense
Accounts receivable collection rate
Number of sales invoices
Accounts receivable collection expense
Warehouse rate per sq. ft.
Number of square feet
Warehouse expense
Chrome File Edit View History Bookmarks Profiles Tab Window Help * 13% O Wed 2:07 PM Q Chapter 24 Homework CengageNOWV2 | Online teach X Cengage Learning C Get Homework Help With Cheo x C Profit Center Responsibility Rex + c v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false : Chapter 24 Homework eBook Show Me How Print Item ? 1. BE.24.01.ALGO Championship Sports Inc. Divisional Income Statements For the Year Ended December 31, 2019 Winter Sports Division 2. BE.24.02.ALGO Summer Sports Division 3. BE.24.06 Sales 27,667,500 30,566,000 16,600,500 Cost of goods sold 17,654,500 4. EX.24.04 Gross profit 11,067,000 12,911,500 5. EX.24.05.ALGO Divisional selling and administrative expenses: Divisional selling expenses 6. EX.24.09.ALGO 4,743,000 4,216,000 Divisional administrative expenses 2,766,800 2,714,100 7. EX.24.10.ALGO Total divisional selling and administrative expenses 7,509,800 6,930,100

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