T Company is a merchandiser with two business segments - Commercial and Residential. The company assigned its interns to prepare a segmented income statement to assist management in making decision. The following was submitted:

Total CompanyCommercialResidentialSales$750,000$250,000$500,000Cost of goods sold500,000140,000360,000Gross margin250,000110,000140,000Selling and administrative expense240,000104,000136,000Net Operating Income$10,000$6,000$4,000

The following were noted upon preparing the report: the company's only variable selling and

administrative expense is a 10% sales commission on all sales. The company's total fixed expenses include $72,000 of common fixed expenses that would continue to be incurred even if the Commercial or Residential segments are discontinued, $55,000 of fixed expenses that would be avoided if the Commercial segment is dropped and $38,000 of fixed expenses that would be avoided if the Residential segment is dropped.

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$60 per D company manufactures and sells a single product. The product sells for unit. Units produced in July and August was 17,500 units per month and the company sold 15,000 units in July and 20,000 units in August. Cost data for the product are given: Variable costs per unit: Direct materials $7 Direct labor $10 $5 $3 $25 Variable manufacturing overhead Variable selling & administrative Total Variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month $315,000 245,000 $560,000 After asking the accounting department, the following absorption costing income statement for two months was prepared: Question 1 Not yet answered Marked out of 1.00 P Flag question 1. Determine the unit product cost under absorption costing. Answer: Question 2 Not yet answered Marked out of 1.00 P Flag question 2. Determine the unit product cost under variable costing. Answer: Question 3 Not yet answered Marked out of 5.00 P Flag question 3. Prepare a contribution format variable costing income statements for July and August. Question 4 Not yet answered Marked out of 1.00 P Flag question July Contribution Magin Answer: Question 5 Not yet answered Marked out of 1.00 P Flag question August Contribution Margin Answer: Question 6 Not yet answered Marked out of 1.00 P Flag question July Net Operating income (loss) Answer: Question 7 Not yet answered Marked out of 1.00 Flag question August Net Operating Income (Loss) Answer: Question 8 Not yet answered Marked out of 5.00 Flag question 4. Reconcile the variable costing and absorption costing net operating incomes. Question 9 Not yet answered Marked out of 1.00 P Flag question Units in ending inventory, July Answer: Question 10 Not yet answered Marked out of 1.00 Flag question Units in ending inventory, August Answer: Question 11 Not yet answered Marked out of 1.00 P Flag question Fixed manufacturing overhead in ending inventory Answer: Question 12 Not yet answered Marked out of 5.00 Flag question 1. Redo the segmented income statement using the contribution format. Question 13 Not yet answered Marked out of 1.00 P Flag question Total variable cost expenses Answer: Question 14 Not yet answered Marked out of 1.00 P Flag question Commercial Total Variable expense Answer: Question 15 Not yet answered Marked out of 1.00 P Flag question Residential Total Variable Expense Answer: Question 16 Not yet answered Marked out of 1.00 P Flag question Companywide segment margin Answer: Question 17 Not yet answered Marked out of 1.00 P Flag question Commercial Segment Margin Answer: Question 18 Not yet answered Marked out of 1.00 P Flag question Residential Segment Margin Answer: Question 19 Not yet answered Marked out of 1.00 | Flag question Companywide net operating income Answer: Question 20 Not yet answered Marked out of 1.00 P Flag question 2. Compute the companywide breakeven point in dollar sales. Round to nearest whole number. Question 21 Not yet answered Marked out of 1.00 P Flag question 3. Compute breakeven point in dollar sales for the Commercial Division. Round to nearest whole number. Answer: Question 22 Not yet answered Marked out of 1.00 | Flag question 4. Compute breakeven point in dollar sales for the Residential Division. Round to nearest whole number