Problem 12-11 Preparing Segment Performance Reports (LO1 - CC2, 3)

Bharat Curry Foods (BCF) prepares and sells frozen curry dinners. The company reported the following operating results for 2021, in which there were no inventories of dinners at the beginning and end of the year:

BHARAT CURRY FOODS
Income Statement
For the Year Ended December 31, 2021
Sales	$	1,660,000
Cost of goods sold		958,000
Gross margin		702,000
Selling and administrative expenses		447,000
Operating income	$	255,000

BCF sells two types of curry foodschicken and lamband operates in Ontario and western Canada. Information on sales and costs is as follows:

	Chicken			Lamb			Total
Regional sales percentage of national sales:
Ontario		37	%		21	%		58	%
Western Canada		25			17			42
Total		62	%		38	%		100	%
Costs as percentage of regional sales:
Variable production costs		42	%		42	%
Variable selling expenses		15	%		15	%
Fixed costs by product:
Traceable fixed expenses	$	77,000		$	77,000		$	154,000
Common fixed costs	Remainder of total costs

The following information is for lamb products only:

	Ontario			Western Canada			Total
Costs as percentage of regional lamb sales:
Variable production costs		47	%		35.82	%
Variable selling expenses		14	%		16	%
Fixed costs by region:
Traceable fixed expenses	$	31,000		$	46,000		$	77,000

Required:

1. Prepare, in good form, an income statement segmented by product line, showing the corresponding company totals. Use Exhibit 123 as a guide. (Round "Percentage" answers to 2 decimal places, (i.e., 0.1234 should be considered as 12.34%). Round your answers to nearest dollar amount.)

2. Prepare, in good form, a segmented performance report for lamb curry dinners by region. (Round "Percentage" answers to 2 decimal places, (i.e., 0.1234 should be considered as 12.34%). Round your answers to nearest dollar amount.)