respectively, in the Northern territory during June, Variable expenses are 22% of the selling price for Paks and 1 J tor IIbs. Cost records show that $67,500 of the Northern Territory's fixed expenses are traceable to Paks and $60,000 to Tibs, with the remainder common to the two products. Required: -a. Prepare contribution format segmented income statements for the total company broken down between sales territories. l-b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. 8 Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the total company broken down between sales ternitories. (Round the percentage answers to one decimal place (i.e.1234 should be entered as 12.3).) records show that $67,500 of the Northern Territory's flxed expenses are traceable to Paks and $60,000 to Tibs, with the remainder common to the two products. Required: 1-a. Prepare contribution format segmented income statements for the total company broken down between sales territories. 1-b. Prepare contribution format segmented income statements for the Northem Territory broken down by product line. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. (Round the percentage answers to one decimal place (i,e .1234 should be entered as 12,3).) Vulcan Company's contribution format income statement for June is as follows: Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following: a. The company is divided into two sales territories - Northern and Southern. The Northem Territory recorded $400,000 in sales and $208,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $164,000 and $125,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territorles. b. The company is the exclusive distributor for two products - Paks and Tibs. Sales of Paks and Tibs totaled $150,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 22% of the selling price for Paks and 70% for Tibs. Cost records show that $67,500 of the Northern Territory's fixed expenses are traceable to Paks and $60,000 to Tibs, with the remainder common to the two products. Required: 1-a. Prepare contribution format segmented income statements for the total company broken down between sales territories. 1-b. Prepare contribution format segmented income statements for the Northem Territory broken down by product line. (2) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. (Round the percentage answers to one decimol place (i.e 1234 thould be entered as 12.3).)
