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Prepare a contribution income statement

Prepare a contribution income statement

FINANCIAL ACCOUNTING
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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Fixed Controllable Costs Boston Hartford total Clothing Cycle & run Could not be traced to clothing or cycling at Hartford Could not be traced to Boston or Hartford Fixed Noncontrollable Costs Boston Hartford total Clothing Cycle & run Could not be traced to clothing or cycling at Hartford Could not be traced to Boston or Hartford Variable costs Total variable costs Combined Not Company Allocated Percent of Total Cost 45% 45 Required: 1. Prepare a contribution income statement for CWI showing the contribution margin, controllable margin, and contribution by profit center for both the Boston and Hartford stores, and also for the clothing and cycle & run units of the Hartford store. Boston Hartford 50 30 20 10 Percent of Total Cost 40% 50 55 35 10 10 Not Allocated Clothing Cycle & Run
Transcribed Image Text:Fixed Controllable Costs Boston Hartford total Clothing Cycle & run Could not be traced to clothing or cycling at Hartford Could not be traced to Boston or Hartford Fixed Noncontrollable Costs Boston Hartford total Clothing Cycle & run Could not be traced to clothing or cycling at Hartford Could not be traced to Boston or Hartford Variable costs Total variable costs Combined Not Company Allocated Percent of Total Cost 45% 45 Required: 1. Prepare a contribution income statement for CWI showing the contribution margin, controllable margin, and contribution by profit center for both the Boston and Hartford stores, and also for the clothing and cycle & run units of the Hartford store. Boston Hartford 50 30 20 10 Percent of Total Cost 40% 50 55 35 10 10 Not Allocated Clothing Cycle & Run
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