3. RESPONSIBILITY INCOME STATEMENT-PREPARATION Gameland Village is segmented into two sales departments: software and video games. During April, these two departments reported the following operating results: Software Video Games $400,000 $200,000 Sales. 65% 56% Variable costs (as a percentage of sales).... Traceable fixed costs..... $20,000 $16,000 In addition, fixed costs common to both departments amounted to $42,000. Complete the following segmented income statement for Gameland Village. Follow the contribution margin approach, and show percentages as well as dollar amounts. Conclude your income statement with the company's income from operations. GAMELAND VILLAGE Income Statement by Product Lines For the Month Ended April 30, 20_ Segments Gameland Village Software Video Games Dollars Dollars Dollars Sales $2$ $400,000 100 $200,000 100 Variable Costs 65 56 $24 $2$ %24

3. RESPONSIBILITY INCOME STATEMENT-PREPARATION Gameland Village is segmented into two sales departments: software and video games. During April, these two departments reported the following operating results: Software Video Games $400,000 $200,000 Sales. 65% 56% Variable costs (as a percentage of sales).... Traceable fixed costs..... $20,000 $16,000 In addition, fixed costs common to both departments amounted to $42,000. Complete the following segmented income statement for Gameland Village. Follow the contribution margin approach, and show percentages as well as dollar amounts. Conclude your income statement with the company's income from operations. GAMELAND VILLAGE Income Statement by Product Lines For the Month Ended April 30, 20_ Segments Gameland Village Software Video Games Dollars Dollars Dollars Sales $2$ $400,000 100 $200,000 100 Variable Costs 65 56 $24 $2$ %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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