s 2021 financial statements, how much should YELLOW report as operating profit for Segment #1?
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In its 2021 financial statements, how much should YELLOW report as operating profit for Segment #1?
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- King Company operates in 4 different industries, each of which is appropriately regarded as a reportablesegment. Total sales for 2019 for all segments combined were $1,000,000. Sales for Segment 2 were$400,000, and the traceable costs were $150,000. Total common costs for all segments combined were$500,000. King allocates common costs based on the ratio of a segment’s sales to total sales, anappropriate method of allocation. The segment profit to be reported for Segment 2 for 2019 is _________.A. $ 50,000B. $125,000C. $200,000D. $250,000Windmill Corp. has three manufacturing divisions, each of which has been Determined to be reportable segment. Common costs are appropriately allocated on the basis of each division’s sales in relation to Windmill’s aggregate sales. In the current year, Division 1 had sales of P6,000,000, which was 20%of Windmill’s total sales, and had traceable cost of P3,800,00. Windmill incurred operating cost of P1,000,000 that were not directly traceable to any of the divisions. In addition, Windmill incurred interest expense of P600,000. In reporting segment information, what amount should be shown as operating profit of Division 1 for the current year?Norte Company has three manufacturing divisions, each of which has been Determined to be reportable segment. Common costs are appropriately allocated on the basis of each division’s sales in relation to Norte’s aggregate sales. In the current year, Division 1 had sales of P6,000,000, which was 20%of Norte’s total sales, and had traceable cost of P3,800,00. Norte incurred operating cost of P1,000,000 that were not directly traceable to any of the divisions. In addition, Norte incurred interest expense of P600,000. In reporting segment information, what amount should be shown as operating profit of Division 1 for the current year? A. 2,200,000 B. 2,000,000 C. 1,880,000 D. 1,400,000
- 8. Chicken Company has three lines of business, each of which was determined to be reportable segment. Chicken Company sales aggregated P15,000,000 in 2020 of which Segment Wings contributed 40%. Traceable costs were P3,500,000 for Segment Wings of a total of P10,000,000 for the company as a whole. For internal reporting, Chicken allocates common costs of P3,000,000 based on the ratio of a segment’s income before common costs.In its 2020 financial statements, how much should Chicken report as operating profit for Segment Wings?Dukko Company has 3 lines of businesses, each of which is a significant segment. Company salesaggregated to $1,800,000 in 2020, of which Segment 3 contributed 60%. Traceable costs were $600,000for Segment 3 from a total of $1,200,000 for the company as a whole. In addition, $350,000 of commoncosts are allocated in the ratio of a segment’s income before common costs to the total income beforecommon costs. For Segment 3, Dukko should report a 2020 segment profit of ______________.A. $200,000B. $270,000C. $280,000D. $480,000Dut Inc. has three lines of business, each of which is a significant industry segment. Dut's sales totaled $900,000 in 2020, of which Segment 3 contributed 60%. Traceable costs were $300,000 for Segment 3 from a total of $600,000 for the company as a whole. In addition, $200,000 of common costs are allocated in the ratio of a segment's income before common costs to the total income before common costs. For Segment 3, Dut should report 2020 profit of: $150,000 $80,000 $120,000 $100,000
- Leno Corporation operates in three different industries each of which is appropriately regarded as a reportable segment. Segment B contributed 30% of Leno Corporation's total sales. Sales for Segment B were $350,000 and traceable costs were $200,000. Total common costs for all segments were $500,000. Leno allocates common costs based on the ratio of each segment's sales to total sales. What should be the operating profit (loss) for Segment B? a. $150,000 b. $10,000 c. $-0- d. ($100,000)What amount should be disclosed as Dae-su's profit for the current year? * Dae-su Company has four manufacturing divisions, each of which has been determined to be a reportable segment. Common costs are appropriately allocated on the basis of each division's sales in relation to Dae-su's aggregate sales. Dae-su's 4th division accounted for 40% of Dae-su's total sales in the current year. For the current year, 4th division had sales of P8,000,000 and traceable costs of P4,800,000. In addition, the 4th division incurred interest expense of P640,000. In the current year, Dae-su incurred costs of P800,000 that were not directly traceable to any of the divisions. It is an entity policy that interest expense is included in the measure of profit or loss that is reviewed by the chief operating decision maker. O 3,200,000 O 3,000,000 O 2,880,000 O 2,240,000Georgetown Corporation has two major business segments-Hats and Scarfs. Data concerning those segments for October appear below: Sales revenues, Hats $130,000 Variable expenses, Hats $66,000 Traceable fixed expenses, Hats $17,000 Sales revenues, Scarfs $540,000 Variable expenses, Scarfs $270,000 Traceable fixed expenses, Scarfs $92,000 Common fixed expenses totaled $153,000. Required: Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts. the break-even point in sales for the company as a whole. No Heading Required. Also calculate
- Patterson Company operates three segments. Income statements for the segments imply that profitability could be improved if Segment A were eliminated. PATTERSON COMPANY Income Statements for the Year 2014 Segment Sales A В C $162,000 $242,000 $263,000 (84,000) (30,000) (80,000) (31,000) Cost of goods sold Sales commissions (128,000) (18,000) Contribution margin General fixed oper. exp. (allocation of president's salary) Advertising expense (specific to individual divisions) 16,000 128,000 152,000 (35,000) (39,000) (33,000) (3,000) (15,000) (26,000) $ 78,000 119,000 Net income Required: a. Prepare a schedule of relevant sales and costs for Segment A. Relevant Rev. and Cost items for Segment A Effect on income b. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A PATTERSON COMPANY Comparative Income Statements for the Year 2014 Eliminate Seg. A Keep Seg. A Decision Sales Cost of…Stryker corp. Has two major business segments- east and west. In April, the east business segment had sales revenue of 500,000, variable expenses of 280,000 and traceable fixed expenses of 80,000. During the same month, the west business segment had sales revenues of 970,000, variable expenses of 514,000 and traceable fixed expenses of 184,000. The common fixed expenses total 280,000 and were allocated as follows: 112,000 to the east business segment and 168,000 to the west business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the east business segment is: 108,000 28,000 140,000 280,000Holo Company reported the following financial numbers for one of its divisions for the year; average total assets of $5,910,000; sales of $5,485,000; cost of goods sold of $3,280,000; and operating expenses of $1,158,000. Assume a target income of 14% of average invested assets. Compute residual income for the division: Multiple Choice $146,580. $279,100. $146,627. $219,600. $104,700.
