Sales by Knight Inc. to major customers are as follows: Customer State of Illinois Cook County, Illinois U.S. Treasury Department U.S. Department of Defense Bank of England Philips NV Honda Sales $2,850,000 3,570,000 Reporting Segment Computer hardware Computer software 3,920,000 Service contract 2,260,000 Service contract Service contracts Computer software Computer hardware 4,670,000 Computer software 2,920,000 Computer hardware 5,430,000 Computer hardware Required: Assume if worldwide sales total $44,200,000 for the year, what amount of Knight's sales from major customer should be disclosed under the following reporting segments? 4

Sales by Knight Inc. to major customers are as follows: Customer State of Illinois Cook County, Illinois U.S. Treasury Department U.S. Department of Defense Bank of England Philips NV Honda Sales $2,850,000 3,570,000 Reporting Segment Computer hardware Computer software 3,920,000 Service contract 2,260,000 Service contract Service contracts Computer software Computer hardware 4,670,000 Computer software 2,920,000 Computer hardware 5,430,000 Computer hardware Required: Assume if worldwide sales total $44,200,000 for the year, what amount of Knight's sales from major customer should be disclosed under the following reporting segments? 4

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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ok " t 0 inces Baird Corporation makes and sells state-of-the-art electronics products. One of its segments produces The Math Machine, an inexpensive calculator. The company's chief accountant recently prepared the following income statement showing annual revenues and expenses associated with the segment's operating activities. The relevant range for the production and sale of the calculators is between 32,000 and 66,000 units per year. Revenue (40,eee units $11.00) Unit-level variable costs Materials cost (40,000 $3.00) x Labor cost (40,000 × $2.00) Manufacturing overhead (40,000 x $0.50) Shipping and handling (40,000 × $0.32) Sales commissions (40,000 × $2.00) Contribution margin Fixed expenses Advertising costs Salary of production supervisor Allocated companywide facility-level expenses Net loss Complete this question by entering your answers in the tabs below. Req A Required a. A large discount store has approached the owner of Baird about buying 9,000 calculators. It would…
Using the data below for the Ace Guitar Company: A Region B Region Sales $500,000 $900,000 Cost of goods sold 200,000 300,000 Selling expenses 150,000 275,000 Support department expenses: Purchasing $90,000 Payroll accounting 30,000 Allocate support department expenses proportional to the sales of each region. Determine the divisional operating income for the A and B regions. For interim calculations, round percentages to one decimal place and all other amounts to the nearest whole dollar. A Region Operating Income $fill in the blank 1 B Region Operating Income $fill in the blank 2
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