Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results. Sales Variable costs (as a percentage of sales) Traceable fixed costs Hardware $ 600,000 40% $ 250,000 In addition, fixed costs common to both divisions amounted to $223,000. Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each division. (Round percentage answers to 2 decimal place. i.e. 0.1234 should be considered as 12.34%.) NICHOLAS TECHNOLOGIES Responsibility Income Statement For the Current Month Entire Company Dollars Percent of Sales % % Software $ 880,000 45% $ 125,000 % % Hardware Services Division Dollars Percent of Sales % % % Software Services Division Dollars Percent of Sales % % %
Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results. Sales Variable costs (as a percentage of sales) Traceable fixed costs Hardware $ 600,000 40% $ 250,000 In addition, fixed costs common to both divisions amounted to $223,000. Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each division. (Round percentage answers to 2 decimal place. i.e. 0.1234 should be considered as 12.34%.) NICHOLAS TECHNOLOGIES Responsibility Income Statement For the Current Month Entire Company Dollars Percent of Sales % % Software $ 880,000 45% $ 125,000 % % Hardware Services Division Dollars Percent of Sales % % % Software Services Division Dollars Percent of Sales % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions
reported the following results.
Sales
Variable costs (as a percentage of sales)
Traceable fixed costs
Hardware
$ 600,000
40%
$ 250,000
In addition, fixed costs common to both divisions amounted to $223,000.
Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations
for the business and with the responsibility margin for each division. (Round percentage answers to 2 decimal place. i.e. 0.1234
should be considered as 12.34%.)
NICHOLAS TECHNOLOGIES
Responsibility Income Statement
For the Current Month
Entire Company
Dollars
Percent of
Sales
%
%
Software
$ 880,000
45%
$ 125,000
%
%
Hardware Services Division
Dollars Percent of Sales
%
%
%
Software Services Division
Dollars Percent of Sales
%
%
%
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