Wildhorse Corporation’s Small Craft division reported a net operating loss of $2331000 in the most recent reporting period. The division absorbed common fixed corporate expenses of $2533000. The division’s segment margin is
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Wildhorse Corporation’s Small Craft division reported a net operating loss of $2331000 in the most recent reporting period. The division absorbed common fixed corporate expenses of $2533000. The division’s segment margin is
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- Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format Income statement: sales variable expenses Contribution margin Fixed expenses $ 1,610,000 551,400 Net operating income (loss) 1,058,600 1,164,000 $ (105,400) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following Information: Sales East $410,000 Division Central $ 670,000 West $530,000 Variable expenses as a percentage of sales Traceable fixed expenses 52% 22% 36% $ 278,000 $ 326,000 $ 200,000 Required: 1. Prepare a contribution format Income statement segmented by divisions. 2-8. The Marketing Department has proposed increasing the West Division's monthly advertising by $27,000 based on the belief that it would increase that division's sales by 13%. Assuming these estimates are accurate, how much…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?All products at Luke Corp. are allocated a portion of corporate overhead costs, which is computed as a percent of product revenue. The percentage rate is based on the level of corporate costs as a percentage of revenues. Data on corporate costs and revenues for the past two years were stated as: Corporate Revenue Corporate Overhead Costs Most recent year $ 112,750,000 $ 10,237,500 Previous year $ 76,200,000 $ 7,921,000 Using the data in the table apply the high low method (based on revenues) to determine the variable corporate overhead costs per sales dollar. Round to the nearest 0.001.
- Subject - account Please help me. Thankyou.ewer D) Portis, Inc. reported sales of $8,000,000 for the month and incurred variable totaling $5,600,000 and fixed expenses totaling $1,440,000. The company has no beginning or ending inventories. A total of 80,000 units were produced and sold last month. (Note that this is the same data that was provided for the previous question.) How many units would the company have to sell to achieve a desired profit of $1,200,000? expenses 88,000 A) 100,000 B) 106,668 C) 150,000 D) Inn renorted sales of $8.000,000 for the month and incurred variable expenses nu hor noCVP Industries recorded the below transactions for the month just been ended. PKR 700,000 in raw materials were purchased on account. 600,000 in raw materials were used in production. Of this amount, 520,000 was for direct materials and the remainder was for indirect materials. Labor wages of PKR 280,000 were paid in cash. Of this amount, PKR 200,000 was for direct labor and the remainder was for indirect labor. Depreciation of PKR 175,000 incurred on factory equipment. Journalize the above entries.
- 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 28,000 140,000 280,000Imagination Corporation uses residual income to evaluate the performance of its divisions. Imagination's minimum required rate of return is 10%. In April, the Commercial Products Division had average operating assets of $105,000 and net operating income of $9,700. What was the Commercial Products Division's residual income in April? Multiple Choice $970. $(970). $800. $(800).Sheridan Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2025, Sheridan's break-even point was $1.34 million. On sales of $1.50 million, its GAAP income statement showed a gross profit of $227,500, direct materials cost of $530,000, and direct labor costs of $625,000. The contribution margin was $165.000, and variable manufacturing overhead was $52,000. Calculate the following: 1. 2. Your answer is incorrect. 3. Variable selling and administrative expenses. Fixed manufacturing overhead. Fixed selling and administrative expenses. $ BA GA $ $ Ignoring your answer to above part, assume that fixed manufacturing overhead was $100,000 and the fixed selling and administrative expenses were $79,000. The marketing vice president feels that if the company increased its advertising, sales could be increased by 20%. What is the maximum increased…
- Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by its most recent monthly contribution format Income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,601,000 530,090 1,070,910 1,178,000 $ (107,090) In an effort to resolve the problem, the company wants to prepare an Income statement segmented by division. Accordingly, the Accounting Department provided the following Information: Sales Variable expenses as a percentage of sales Traceable fixed expenses East $ 401,000 49% $ 293,000 Required 1 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Prepare a contribution format income statement segmented by divisions. Required: 1. Prepare a contribution format Income statement segmented by divisions. 2-a. The Marketing Department belleves increasing the West Division's monthly advertising by $30,000 will increase that division's sales…Whipple Company has sales revenue of $585,000. Cost of goods sold before adjustment is $335,000. The company uses machine hours to allocate manufacturing overhead and estimated 10,450 machine hours would be used during the year. For the year, manufacturing overhead was under-allocated by $13,400. The company's actual manufacturing overhead is $91,000. What is the actual gross profit? Select one: a. $250,000 b. $159,000 c. $236,600 d. $104,400 e. $263,400Hi-Tek Manufacturing, Incorporated, makes two industrial component parts-B300 and T500. An absorption costing income state for the most recent period is shown below: Hi-Tek Manufacturing, Incorporated Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss. Hi-Tek produced and sold 60,300 units of B300 at a price of $20 per unit and 12,500 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labo dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor Manufacturing overhead Cost of goods sold $ 1,706,000 1,221,008 484,992 570,000 $ (85,008) Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Product-sustaining (number of products) Other (organization-sustaining costs) Total manufacturing overhead…