Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below: Sales revenues, Apparel Variable expenses, Apparel Traceable fixed expenses, Apparel Sales revenues, Accessories Variable expenses, Accessories Traceable fixed expenses, Accessories $735,000 $342,000 $174,000 $777,000 $426,000 $125,000 Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and $246,000 to the Accessories business segment. Required: Prepare a segmented income statement in the contribution format for the company.
Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below: Sales revenues, Apparel Variable expenses, Apparel Traceable fixed expenses, Apparel Sales revenues, Accessories Variable expenses, Accessories Traceable fixed expenses, Accessories $735,000 $342,000 $174,000 $777,000 $426,000 $125,000 Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and $246,000 to the Accessories business segment. Required: Prepare a segmented income statement in the contribution format for the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December
appear below:
Sales revenues, Apparel
Variable expenses, Apparel
Traceable fixed expenses, Apparel
Sales revenues, Accessories
Variable expenses, Accessories
Traceable fixed expenses, Accessories
$735,000
$342,000
$174,000
$777,000
$426,000
$125,000
Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and
$246,000 to the Accessories business segment.
Required:
Prepare a segmented income statement in the contribution format for the company.
Total
Apparel
Accessories
Company
Net operating income (loss)
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