Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales $ 900,000 Variable expenses 400,000 Contribution margin 500,000 Fixed expenses 450,000 Net operating income $ 50,000 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 territoriesNorthern and Southern. The Northern Territory recorded $400,000 in sales and $180,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $160,000 and $150,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories. b. The company is the exclusive distributor for two productsPaks and Tibs. Sales of Paks and Tibs totaled $150,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 30% of the selling price for Paks and 54% for Tibs. Cost records show that $75,000 of the Northern Territory's fixed expenses are traceable to Paks and $57,500 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 Northern Territory broken down by product line. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Prepare contribution format segmented income statements for the total company broken down between sales territories. (Round the percentage answers to one decimal place (i.e .1234 should be entered as 12.3).) % Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income OOOOOO Sales Territory Southern % Amount 100.0 $ 500,000 45.0 220,000 55.0 280,000 50.0 X 115,000 X 5.0 165,000 Total Company Northern Amount % Amount $ 900,000 100.0 $ 400,000 400,000 44.4 180,000 500,000 55.6 220,000 315.000 35.0 X 200,000 X 185,000 20.6 $ 20,000 135.000 15.0 x $ 50,000 5.6 100.0 44.0 56.0 23.0 X 33.0 Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales $ 900,000 Variable expenses 400,000 Contribution margin 500,000 Fixed expenses 450,000 Net operating income $ 50,000 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 territoriesNorthern and Southern. The Northern Territory recorded $400,000 in sales and $180,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $160,000 and $150,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories. b. The company is the exclusive distributor for two productsPaks and Tibs. Sales of Paks and Tibs totaled $150,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 30% of the selling price for Paks and 54% for Tibs. Cost records show that $75,000 of the Northern Territory's fixed expenses are traceable to Paks and $57,500 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 Northern Territory broken down by product line. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B 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).) Product Line % Sales Northern Territory Paks Amount % Amount $ 400,000 100.0 $ 170,000 X 180,000 45.0 37,400 X 20,000 55.0 .600 122,000 X 30.5 x 71,400 X 98,000 24.5 $ 61,200 Tibs % Amount 100.0 $ 230,000 X 22.0 > 142,600 X 78.0 87,400 42.0 X 50,600 36.0 $ 36.800 100.0 62.0 % 38.0 22.0 X Variable expenses Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses Sales territory segment margin 16.0 78,000 X $ 20.000 24.5