Please do not give solution in image format thanku Rock Incorporated has three divisions, Granite, Lime and Nina. All fixed costs are common and unavoidable. Following is the incomestatement for the previous year:Sales revenueVariable costsGraniteLimeNina$ 500,000 $275,000 $225,000125,000$ 325,000 $ 150,000175,000Contribution/segment marginCommon fixed costs (allocated) 275,000Net operating income (loss) $ 50,000151,250100,000123,750Total$1,000,000$ 125,000 $ 600,000$ (1,250) $1,250400,000550,000$ 50,000Required:1. What would Rock's income (loss) be if the Lime Division were dropped?2. What would Rock's income (loss) be if the Nina Division were dropped?

Net profit or loss is the amount of income earned or loss incurred by the entity. It is shown in the…

Granite Lime Nina Total Sales revenue $ 500,000 $275,000 $225,000 $1,000,000 Variable costs 175,000 125,000 100,000 400,000 ontribution/segment margin $325,000 $150,000 $125,000 $600,000 mmon fixed costs (allocated) 275,000 151,250 123,750 550,000 Net operating income (loss) $ 50,000 $ (1,250) $1,250 $ 50,000 uired: 1. What would Rock's income (loss) be if the Lime Division were dropped? 2. What would Rock's income (loss) be if the Nina Division were dropped?

Granite Lime Nina Total Sales revenue $ 500,000 $275,000 $225,000 $1,000,000 Variable costs 175,000 125,000 100,000 400,000 ontribution/segment margin $325,000 $150,000 $125,000 $600,000 mmon fixed costs (allocated) 275,000 151,250 123,750 550,000 Net operating income (loss) $ 50,000 $ (1,250) $1,250 $ 50,000 uired: 1. What would Rock's income (loss) be if the Lime Division were dropped? 2. What would Rock's income (loss) be if the Nina Division were dropped?

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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