Please do not give solution in image format Fashionisto Incorporated is an upscale clothing store in New York City and London. Each store has two main departments,Men's Apparel and Women's Apparel. Marie Phelps, Fashionisto's CFO, wants to use strategic performance measurement tobetter understand the company's financial results. She has decided to use the profit center method to measure performanceand has gathered the following information about the two stores and the two departments of the New York City store:Total net sales.Fixed costsPartly traceable and controllablePartly traceable but noncontrollableNontraceable costsTotal net sales (percent)London storeNew York store.New York-Men's ApparelNew York-Women's ApparelCost of goods sold-variable (percent of sales)London storeNew York-Men's ApparelNew York-Women's ApparelVariable operating costs (percent of sales)London storeNew York-Men's ApparelNew York-Women's ApparelFixed controllable costs-partly traceable (percent of total)London storeNew York totalMen's ApparelWomen's ApparelCould not be traced to Men's or Women's ApparelCould not be traced to London or New YorkFixed noncontrollable costs-partly traceable (percent of total)London storeNew York totalMen's ApparelWomen's ApparelCould not be traced to Men's or Women's ApparelCould not be traced to London or New YorkRequired:1. Using this information, prepare a contribution income statement for Fashionisto.Variable costTotal variable costCombinedCompany$0000Not Allocated London Store0000$ 3,500,000250,000220,00070,000New YorkStore00040%60406052%456036%223240%404540152050%4035155010Not allocatedMen's weal0 $

In comparison to the consolidated income statement, segmental income statements give a more detailed…

Fashionisto Incorporated is an upscale clothing store in New York City and London. Each store has two main depart Men's Apparel and Women's Apparel. Marie Phelps, Fashionisto's CFO, wants to use strategic performance measur better understand the company's financial results. She has decided to use the profit center method to measure per and has gathered the following information about the two stores and the two departments of the New York City sto $ 3,500,000 250,000 220,000 70,000 Total net sales Fixed costs Partly traceable and controllable Partly traceable but noncontrollable Nontraceable costs Total net sales (percent) London store New York store 40% 60

Fashionisto Incorporated is an upscale clothing store in New York City and London. Each store has two main depart Men's Apparel and Women's Apparel. Marie Phelps, Fashionisto's CFO, wants to use strategic performance measur better understand the company's financial results. She has decided to use the profit center method to measure per and has gathered the following information about the two stores and the two departments of the New York City sto $ 3,500,000 250,000 220,000 70,000 Total net sales Fixed costs Partly traceable and controllable Partly traceable but noncontrollable Nontraceable costs Total net sales (percent) London store New York store 40% 60

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter25: Segment Income Statement (dept)

Section: Chapter Questions

Problem 6R

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