Baseball Soccer Basketball Total Sales revenue $1,140,000 $3,270,000 $2,161,000 $6,571,000 Variable cost of goods sold 772,000 2,125,500 1,729,600 4,627,100 Fixed cost of goods sold 104,900 170,700 150,700 426,300 Gross profit 263,100 973,800 280,700 1,517,600 Variable operating expenses 154,400 523,200 216,100 893,700 Fixed operating expenses 72,600 76,300 66,300 215,200 Common fixed costs 54,500 118,000 88,100 260,600 Operating income ($18,400) $256,300 ($89,800) $148,100 Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. (a) Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division. (If the amount is negative then enter with a negative sign preceding the number, e.g. -5,125 or parenthesis, e.g. (5,125).) Baseball $ $ Soccer $ $ $ $ Basketball $ 69 $ Total

Baseball Soccer Basketball Total Sales revenue $1,140,000 $3,270,000 $2,161,000 $6,571,000 Variable cost of goods sold 772,000 2,125,500 1,729,600 4,627,100 Fixed cost of goods sold 104,900 170,700 150,700 426,300 Gross profit 263,100 973,800 280,700 1,517,600 Variable operating expenses 154,400 523,200 216,100 893,700 Fixed operating expenses 72,600 76,300 66,300 215,200 Common fixed costs 54,500 118,000 88,100 260,600 Operating income ($18,400) $256,300 ($89,800) $148,100 Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. (a) Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division. (If the amount is negative then enter with a negative sign preceding the number, e.g. -5,125 or parenthesis, e.g. (5,125).) Baseball $ $ Soccer $ $ $ $ Basketball $ 69 $ Total

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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