Wulcan Company's contribution format income statement for Jure is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales $800,000 Variable expenses 300,000 Contribution margin 500,000 Fixed expenses 460,000 Net operating $ 40,000 income 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 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 $172,000 and $88.000 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 $125.000 and $275,000, respectively, in the Northern territory during June. Variable expenses are 30% of the selling price for Paks and 62% for Tibs Cost records show that $75,000 of the Northern Territory's fixed expenses are traceable to Paks and $60,500 to Tibs, with the remainder common to the two products. Required: Ha. Prepare contribution format segmented income statements for the total company broken down between sales territories 15. Prepare contribution format segmented income statements for the Northern Teritory broken down by product line. Complete this question by entering your answers in the tabs below. Req 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).) Show less A Sales Territory Total Company Northern Southern Amount % Amount % Amount Sales $ 800,000 X $ 400,000 400,000 Variable expenses (300,000 x (208,000 (92,000 X Contribution margin 500,000 0.0 192,000 0.0 308.000 0.0 Traceable fixed (260,000 (172.000 (88.000 expenses Territorial segment $ 240,000 0.0 $ 20,000 0.0 margin 220,000 Common fixed expenses (200,000 Net operating income $ 40,000 0.0 X 33 X X SO0OSSO 0.0 Feg1 Reg 1B > *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales $800,000 Variable expenses 300,000 Contribution margin 500,000 Fixed expenses 460,000 Net operating $ 40,000 income 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 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 $172,000 and $88,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fored 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 $125,000 and $275,000, respectively, in the Northern territory during June. Variable expenses are 30% of the selling price for Paks and 62% for Tibs Cost records show that $75,000 of the Northern Territory's fixed expenses are traceable to Paks and $60,500 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 1b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Prepare contribution format segmented Income statements for the Northern Territory broken down by product line. (Round the percentage answers to one decimal place (.e.1234 should be entered as 12.3).) Show less Product Line Northern Territory Paks Tibs Amount % Amount % Amount % Sales $ 125,000 $ 275,000$ $ 400,0008 Variable expenses (37,500 X (170,500 X X1208,000 X X Contribution margin 87,500 00 104,500 0.0 192,000 0.0 Traceable foxed expenses 75,000 X(60,500 X (135,5001 Product line segment margin 12,500 0.0 $ 44,000 0.0 $ 56,500 0.0 Common fixed expenses (36,500 X Sales territory segment 0.0 margin (24.000) . >> Reg 1A *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted