This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Bill Jones Flooring's accountant, has prepared the following income statement for the month of ... (Read 74 times)

isam

  • Full Member
  • ***
  • Posts: 156
on: Feb 5, 2023
Bill Jones Flooring's accountant, has prepared the following income statement for the month of May.

​​ResidentialCommercialTotal
Sales Revenue$2,760,000$3,125,000 $5,885,000
Variable expenses    1,305,00  2,520,000  3,825,000
Contribution margin1,455,000605,000 2,060,000
Fixed expenses     645,000    615,0000  1,260,000
Operating income$   810,000$   (10,000)$   800,000

In preparing the income statement, Bill was unsure what to do with $240,000 in corporate fixed expenses that cannot be traced to a division. Since these costs were incurred to run the business, and he believed that each division benefited equally, he just allocated half to each division.

Required:

a.How do you think Bill should have handled the $240,000 in corporate fixed
expenses?
b.Prepare a segment margin income statement that highlights each division's
contribution
to corporate profits. Omit the heading.
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by isam on Feb 5, 2023

GoldenBrown

  • Full Member
  • ***
  • Posts: 166
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 32% of students answer this correctly


isam

  • Member
  • Posts: 156
Reply 2 on: Feb 5, 2023
Gracias!

dawsa925

  • Member
  • Posts: 326
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Income of Adult Children Compared With That of Their Parents Income of Adult Children Compared With That of Their Parents
Income Inequality in the United States: 1947–2009 Income Inequality in the United States: 1947–2009
6 month old baby in highchair eating 6 month old baby in highchair eating
Calculate the accumulated value of monthly payments of $100.00 made at the end of each month ... Calculate the accumulated value of monthly payments of $100.00 made at the end of each month ...
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library