Nantor Corporation has two divisions, Southem and Northern,. The following information was taken from last year's income statement segmented by division:Southern৪ 2,620,000Total Company৪ 4,200, 000$ 1,750,000$ 910,000NorthernSalesContribution marginDivinional segment margin$ 1,110,000$ 740,000$ 1,580,000$ 640,000$ 170,000Net operating income least yoar for Nantor Corporation was $420,000.In last year's income statement segmented by division, what were Nantor's total common fed expenses?Multiple Choice$490,000$840,000$1330,000$1,400,000

Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining that how any…

Answered: In last year's income statement…

Business

Accounting

In last year's income statement segmented by division, what were Nantor's total common fixed expenses?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: What is the impact on the accounting equation when a current month’s utilityexpense is paid

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…

Q: On the Income Statement, how is Operating Income typically calculated? A. Revenue (Cost of Goods…

A: The income statement, also known as the profit and loss statement, is one of the main financial…

Q: Gross profit is equal to Select one: a. revenues - expenses b. sales - cost of goods sold c.…

A: The income statement is prepared to find the net income or losses incurred during the period.

Q: ___________________________ in which the similar expenses are grouped together and intermediate…

A: Revenues is the amount earned by an entity and outlays are the amounts incurred on the operations of…

Q: It is added to income received to determine the total income for the year that is recorded under the…

A: Net income: It can be defined as the excess of a company's sales revenue over the expenses incurred…

Q: which of the following would be considered in the calculation of gross profit? Sales and returns…

A: Gross Profit is the operating profit calculated by deducting the cost of goods sold from the revenue…

Q: The regular financial statements in which every line has been divided by the sales for the year. A.…

A: 1) Common size income statement is an income statement in which each line is expressed as a…

Q: Which type of debit account is balanced in the income statement columns of a work sheet?…

A: Income statement: It is a financial statement that calculate the net income after deducting all…

Q: Dreyfus Retail Co incurred the following expenses during the year: 1. Sales commission 2. Insurance…

A: The matching principle of accounting states to match the current year's income with the current…

Q: Calculate the following for the Tesla Company from the TWO most recent years: a. any two…

A: We have to conduct ratio analysis using the financials from two recent most years for the Tesla…

Q: The ratio that tells you how much income is used up by expenses is the Return on Assets ratio. True…

A: A financial ratio called return on assets (ROA) describes how lucrative a business is in comparison…

Q: Which of the following would not be found on a single-step income statement? Revenues. Gross…

A: The single-step format uses only one subtraction to arrive at net income. Here expenses are deducted…

Q: In a multiple-step income statement, operating expenses are subtracted from gross profit to compute…

A: Operating expenses are incurred to operate the business and these expenses are not included in the…

Q: beginning retained earnings

A: Beginning retained earnings is the opening balance of retained earnings of an accounting year. It is…

Q: Which of the following would appear on a multiple-step income statement but not on a single-step…

A: Multi step Income Statement An financial statements with multiple steps lists a company's financial…

Q: of the following is a technique for reviewing relationships on an income statement by assigning net…

A: Solution: Technique for reviewing relationships on an income statement by assigning net sales as…

Q: labili sets/Net Sale

A: The correct answer is D. Net sales / Average Total Assets

Q: When do we use the Income Summary Account? OA. At the beginning of the financial year to close net…

A: The income summary account provides the summary for loss or profits earned by business during…

Q: single-step income statement fe

A: Income statement is one of financial statement showing the financial performance of income and…

Q: What is the net income from the following incor

A: Net Sales = Sales - Sales return = 12800 - 360 = 12440

Q: What is the imapct on the accoutning equation when a current month's utility expense is paid?

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation,…

Q: A multistep income statement divides revenues and expenses further to show. Select one: a. subtotals…

A: An income statement that categorizes incomes and expenses into operational and non-operating heads…

Q: Compute common-size percent for the following comparative income statements (round percent to one…

A: Common size statement: It implies to a form of interpretation and analysis of the company's…

Q: How does the income statement differ from the balance sheet withregard to the time period reported?

A: A balance sheet is a statement which provides financial data related to the assets, liabilities and…

Q: Express the following comparative income statements in common-size percents. Using the common-size…

A: The comparative income statements are prepared by comparing the elements of the income statement…

Q: Consider the following income statement data from the Ross Company: Current Year Prior Year $962,500…

A: Comparative financial statement means where the difference is taken between the figure of two years…

Q: Return on assets

A: Return on assets is computed as net income upon total assets of the company.

Q: It is required to present earnings per share for: Select one: a. income from continuing operations…

A: The measure of a company's profitability that is given to each existing share of common stock is…

Q: Below are three ratios introduced in your text. Describe the purpose for each of them, and also…

A: The ratios are majorly classified into 3 forms Ratios from Profit & loss statement, Ratios from…

Q: Return on total assets A company reports the following income statement and balance sheet…

A: The answer is as fallows

Q: indicate whether the statement describes a multiple-step income statement or asingle-step income…

A: Multiple step income statement: Multiple step Income statement, as the name suggests, is an income…

Q: Compute common-size percents for the following comparative income statements (round percents to one…

A: Common Size Income Statement for current year Particulars Amount % Sales 740,000 100% Cost…

Q: Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a…

A: HORIZONTAL ANALYSIS Horizontal Analysis is one of the importance analysis techniques of Financial…

Q: Which of the following questions cannot be answered when analyzing the information presented in an…

A: Answer: Income statement is the statement which shows the profit or loss when the revenue and…

Q: ome/loss at the end of income statement

A: The net income/loss at the end of income statement is total income(loss) from continued and…

Q: When should an average amount be used for the numerator or denominator? When the denominator is a…

A: The average amount is used for maintaining the nearest accuracy of the financial ratio. It helps the…

Question

Nantor Corporation has two divisions, Southem and Northern,. The following information was taken from last year's income statement segmented by division:
Southern
৪ 2,620,000
Total Company
৪ 4,200, 000
$ 1,750,000
$ 910,000
Northern
Sales
Contribution margin
Divinional segment margin
$ 1,110,000
$ 740,000
$ 1,580,000
$ 640,000
$ 170,000
Net operating income least yoar for Nantor Corporation was $420,000.
In last year's income statement segmented by division, what were Nantor's total common fed expenses?
Multiple Choice
$490,000
$840,000
$1330,000
$1,400,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Based on the data in the table below... a. What is the percentage of salaries, wages, and benefits to total expenses. b. What is the operating margin ? Financial statement field Salaries and Wages $ 1,971,053 Benefits $ 645,850 Total Operating Revenue $ 5,345,981 Total Expenses $ 5,009, 251 Operating Income $ 4,564,325
Describe the multi-step income statement.
Which of the following expenses is usually listed last on the income statement? a. Advertising expense b. Income tax expense c. Salaries and benefits expense d. Cost of sales
How are discontinued operations reported in the income statement?
What is the order of the subtotals that appear on a multi-step income statement? a. Gross Profit, Operating Income, Net Income, Total Other Revenues and Expenses b. Operating Income, Gross Profit, Net Income, Total Other Revenues and Expenses c. Total Other Revenues and Expenses, Operating Income, Gross Profit, Net Income d. Gross Profit, Operating Income, Total Other Revenues and Expenses, Net Income
which of the following comes first in the income statement O a. finance cost O b. gross profit O C. C. cost of sales O d. distribution cost
Waterway Company sells one product. Presented below is information for January for Waterway Company. Jan. 1 Inventory 119 units at $4 each 4 Sale 98 units at $8 each 11 Purchase 141 units at $6 each 13 Sale 111 units at $9 each 20 Purchase 160 units at $6 each 27 Sale 95 units at $11 each Waterway uses the FIFO cost flow assumption. All purchases and sales are on account.
when putting together an income statement do the revenues and expenses have to put in order from highter amount to lowest?
which comes first when preparing a income statement? please put in order salaries expense cost of goods sold net income total expenses gross profit miscellsneous expense sales
Classify each of the following items as revenues (R), expenses (EX), or withdrawals (W). Cost of sales
Identify which one of the following formula is used to calculate the net income of the service companies in an accounting period? a.Net Purchases – Cost of goods sold b.Net Sales – Cost of goods sold c.Services Revenue – Operational and Administrative Expenses d.Operational and Administrative Expenses – Service Revenue
On a multiple step income statement, the account interest expense would be located under A) Net sales B) COGS C) Other Revenues and expenses