Data for January for Bondi Corporation and its two major business segments, North and South, appear below.Sales revenues, NorthVariable expenses, NorthTraceable fixed expenses, NorthSales revenues, SouthVariable expenses, SouthTraceable fixed expenses, South$ 660,000$ 383,000$ 79,000$ 510,000$291,000$ 66,000In addition, common fixed expenses totaled $179,000 and were allocated as follows: $93,000 to the North business segment and $86,000 to the South business segment.The contribution margin of the South business segment is

For the South business segment:Sales revenues = 510,000Variable expenses = 291,000 The contribution…

Answered: Data for January for Bondi Corporation…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter25: Departmental Accounting

Section: Chapter Questions

Problem 1CE

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Data for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 620,000 $ 359,700 $ 74,100 $ 478,400 $ 273,000 $ 61,900 In addition, common fixed expenses totaled $167,800 and were allocated as follows: $87,100 to the North business segment and $80,700 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 20Y2, are as follows: cost of goods sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000. Prepare a single-step income statement.
Sellall Department Stores reported the following amounts as of its December 31 year- end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement
Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240.Prepare a multistep income statement for distribution to external financial statement users.
Tubaugh Corporation has two major business segments-East and West. In December, the East business segment had sales revenues of $390,000, variable expenses of $210,000, and traceable fixed expenses of $46,000. During the same month, the West business segment had sales revenues of $1,060,000, variable expenses of $540,000, and traceable fixed expenses of $203,000. The common fixed expenses totaled $314,000 and were allocated as follows: $157,000 to the East business segment and $157,000 to the West business segment. The contribution margin of the West business segment is: Multiple Choice $520,000 O $(39,000) O $717,000 O $134,000
Tubaugh Corporation has two major business segments--East and West. In December, the East business segment had sales revenues of $400,000, variable expenses of $215,000, and traceable fixed expenses of $47,000. During the same month, the West business segment had sales revenues of $1,070,000, variable expenses of $544,000, and traceable fixed expenses of $205,000. The common fixed expenses totaled $318,000 and were allocated as follows: $159,000 to the East business segment and $159,000 to the West business segment. The contribution margin of the West business segment is: $526,000 $(35,000) $729,000 $138,000
Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $ 2,580,000 $3,550,000 Cost of goods sold 1,578,960 1,938,300 Selling expenses 304,440 546,700 Administrative expenses 397,320 440,200 Income tax expense 134,160 198,800 A. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round your percentages answers to one decimal place. Enter all amounts as positive numbers. B. Comment on the significant changes disclosed by the comparative income statement.
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average $1,390,000 100 % Sales 736,700 59 Cost of merchandise sold $653,300 41 % Gross profit $417,000 25 % Selling expenses Administrative expenses 152,900 10 Total operating expenses $569,900 35 % Income from operations $83,400 6 % Other revenue and expense: Other revenue 27,800 2 Other expense (13,900) 1 Income before income tax expense $97,300 7 % Income tax expense 41,700 Net income $55,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. econ.docx Show all Type here to search 6:05 AM 59 F 局 10/30/2021 12 prt sc 00 5.
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average Sales $1,540,000 100 % Cost of goods sold 1,016,400 72 Gross profit $523,600 28 % Selling expenses $308,000 15 % Administrative expenses 123,200 7 Total operating expenses $431,200 22 % Operating income $92,400 6 % Other revenue 30,800 2 $123,200 8 % Other expense 15,400 1 Income before income tax $107,800 7 % Income tax expense 46,200 4 Net income $61,600 3 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Tannenhill…
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $2,740,000 100 % Cost of goods sold 1,753,600 69 Gross profit $986,400 31 % Selling expenses $602,800 18 % Administrative expenses 219,200 7 Total operating expenses $822,000 25 % Operating income $164,400 6 % Other revenue 54,800 2 $219,200 8 % Other expense 27,400 1 Income before income tax $191,800 7 % Income tax expense 82,200 5 Net income $109,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive…
5. Data for June for Ozaki Corporation and its two major business segments, North and South, appear below: Sales revenues, North. $550,000 Variable expenses, North. $270,000 Traceable fixed expenses, North $88,000 Sales revenues, South $110,000 Variable expenses, South $47,000 Traceable fixed expenses, South........ $21,000 In addition, common fixed expenses totaled $145,000 and were allocated as follows: $73,000 to the North business segment and $72,000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is: A. $270,000 B. $119,000 C. $207,000 D. $192,000
Common-Sized Income Statement Revenue and expense data for the current calendar year for Sorenson Electronics Company and for the electronics industry are as follows. Sorenson Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. SorensonElectronicsCompany ElectronicsIndustryAverage Sales $1,940,000 100 % Cost of goods sold (1,358,000) (76) Gross profit $582,000 24 % Selling expenses $(329,800) (9) % Administrative expenses (116,400) (9) Total operating expenses $(446,200) (18) % Operating income $135,800 6 % Other revenue and expense: Other revenue 38,800 4 Other expense (19,400) (3) Income before income tax $155,200 7 % Income tax expense (58,200) (5) Net income $97,000 2 % a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If…

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