Vulcan Company's contribution format Income statement for June is as follows: Vulcan Company Inco Stat For the Month Ende June 30 Sales Variable expens Contribution margin Fixed expenses Net operating income $900,000 488,800 492,800 480,800 $ 12,800 Management wants to improve profits and gathered the following dista a. The company is divided into two sales territories-Northern and Southern. The Northern 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 $180,000 and $145.000 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 products-Paks and Tibs Sales of Paks and Tibs totaled $160,000 and $240,000, respectively. In the Northern territory during June. Variable expenses are 28% of the selling price for Paks and 68% for Tibs. Cost records show $78,400 of the Northern Territory's fixed expenses are traceable to Paks and $55,200 to Tibs, with the remainder common to the two products. Required: 1-a. Prepare contribution format Income statements for the total company segmented by sales territories. 1-b. Prepare contribution format income statements for the Northern Territory segmented by product line. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 14 Required 18 Prepare contribution format income statements for the total company segmented by sales territories. Note: Round the percentage answers to one decimal place (l.e.1234 should be entered as 12.3). Sales Territory Total Company Amount Northern Bouthern 56 Amount 56 Amount 56 Sales Variable expenses Contribution margin Traceable fixed expenses Teritorial segment margin Common fixed expenses Net operating income 0000000 $900,000 408,000 492,000 325,000 167,000 156,600 $ 11,400 65.8 (472) 100.0 400,000 1000 $ 500,000 1000 45.3 44,800x 11.2 163,200 68.0 54.7 355,200 888 336,800 32.0 36.10 180,000 45.0 145,000 290 18.6 $175,200 43.8 $191,800 30 Required 18 >