Problem 3-fill in the blank Vulcan Company's contribution format income statement for June is given below: Vulcan Company Income Statement For the Month Ended June 30 Sales .. $750,000 Management Variable expenses 336,000 is Contribution margin 414,000 disappointed Fixed expenses 378,000 with the Net operating income $ 36,000 company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following: The company is divided into two products-N and S. The Product N recorded $300,000 in sales and $156,000 in variable expenses during June; the remaining sales and variable expenses were recorded the Southern territory. Fixed expenses of $120,000 and $108,000 are traceable to the Product N and Product S respectively. The rest of the fixed expenses are common to the two products and was allocated equally. Each territory has an average operating asset of $100,000 and with the used of these operating assets the company required a minimum rate of return on investment of 5% and 8% for Northern and Southern territory respectively. Products Total Complete the table using the data of Vulcan Company Product N Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income Answer % Determine the following using Vulcan Company data: Questions 1. Product N rate of return on investment. 2 Product S rate of return on investment. 2. Southern territory margin 3. Northern territory residual income 4 Southern territory turnover. % %