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Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income Statements For the Current Fiscal Year Ended December 31 Sales Cost of goods sold Gross margin Allocated overhead (from corporate) Selling and administrative expenses Operating income Income tax expense Net income The profit margin ratio for Division B is Division A $8,000,000 3,400,000 4,600,000 1,000,000 600,000 3,000,000 2,000,000 $1,000,000 Division B $2,000,000 1,200,000 800,000 100,000 300,000 400,000 220,000 $ 180,000

Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income Statements For the Current Fiscal Year Ended December 31 Sales Cost of goods sold Gross margin Allocated overhead (from corporate) Selling and administrative expenses Operating income Income tax expense Net income The profit margin ratio for Division B is Division A $8,000,000 3,400,000 4,600,000 1,000,000 600,000 3,000,000 2,000,000 $1,000,000 Division B $2,000,000 1,200,000 800,000 100,000 300,000 400,000 220,000 $ 180,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income Statements For the Current Fiscal Year Ended December 31 Sales Cost of goods sold Gross margin Allocated overhead (from corporate) Selling and administrative expenses Operating income Income tax expense Net income The profit margin ratio for Division B is Division A $8,000,000 3,400,000 4,600,000 1,000,000 600,000 3,000,000 2,000,000 $1,000,000 Division B $2,000,000 1,200,000 800,000 100,000 300,000 400,000 220,000 $ 180,000
Transcribed Image Text:Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income Statements For the Current Fiscal Year Ended December 31 Sales Cost of goods sold Gross margin Allocated overhead (from corporate) Selling and administrative expenses Operating income Income tax expense Net income The profit margin ratio for Division B is Division A $8,000,000 3,400,000 4,600,000 1,000,000 600,000 3,000,000 2,000,000 $1,000,000 Division B $2,000,000 1,200,000 800,000 100,000 300,000 400,000 220,000 $ 180,000
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