Sunland Equipment sells equipment to sports enthusiasts. Doug Sunland, the company's president, just received the following incomestatement reporting the results of the past year.Sales revenueVariable cost of goods soldFixed cost of goods soldGross profitVariable operating expensesFixed operating expensesCommon fixed costsOperating income(a)Baseball$1,200,000eTextbook and Media814,000Save for Later110,300275,700162,90076,20057,500($20,800)Soccer$3,450,000 $2,275,0002,242,500 1,825,600179,700158,500290,900227,50069,90092,9001,027,800552,00080,500124,000$271,300BasketballDoug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseballand basketball gear to concentrate solely on soccer gear.($99,400)Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to eachdivision. (If the amount is negative then enter with a negative sign preceding the number, eg. -5,125 or parenthesis, e.g. (5.125))Total$6,925,0004,882,100448,5001,594,400942,300226,600274,400$151,100Baseball$SoccerAttempts: 0 of 3 usedSubmit Answer

Sunland Equipment sells equipment to sports enthusiasts. Doug Sunland, the company's president, just received the following income statement reporting the results of the past year. Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) Baseball V $1,200,000 V 814,000 110,300 275,700 162,800 76,200 57,500 ($20,800) Soccer Basketball $3,450,000 $2,275,000 2,242,500 1,825,600 179,700 158,500 1,027,800 552,000 80,500 124,000 $271,300 ($99,400) 290,900 227,500 69,900 Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. 92,900 Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division. (If the amount is negative then enter with a negative sign preceding the number, eg.-5,125 or parenthesis, e.g. (5.125)) $ Total $6,925,000 4,882,100 448,500 1,594,400 942,300 226,600 274,400 $151,100 Baseball Soccer C

Sunland Equipment sells equipment to sports enthusiasts. Doug Sunland, the company's president, just received the following income statement reporting the results of the past year. Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) Baseball V $1,200,000 V 814,000 110,300 275,700 162,800 76,200 57,500 ($20,800) Soccer Basketball $3,450,000 $2,275,000 2,242,500 1,825,600 179,700 158,500 1,027,800 552,000 80,500 124,000 $271,300 ($99,400) 290,900 227,500 69,900 Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. 92,900 Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division. (If the amount is negative then enter with a negative sign preceding the number, eg.-5,125 or parenthesis, e.g. (5.125)) $ Total $6,925,000 4,882,100 448,500 1,594,400 942,300 226,600 274,400 $151,100 Baseball Soccer C

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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