Options:*Administrative expenses*Advertising*Beginning merchanise inventory*CommissionsPart 2ANet operating income will _______ by ________Part 2BWould you recommend the increased advertising? Yes or No Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its mostrecent monthly contribution format income statement:$ 1,634,000620,3001,013,7001,115,000SalesVariable expensesContribution marginFixed expensesNet operating income (loss)$ (101,300)In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, theAccounting Department has developed the following information:DivisionEastCentralWestSales$394,000$690,000$550,000Variable expenses as a percentage of salesTraceable fixed expenses55%29%37%$291,000$330,000$206,000 Required:1. Prepare a contribution format income statement segmented by divisions.2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $20,000 based on the belief that itwould increase that division's sales by 13%. Assuming these estimates are accurate, how much would the company's net operatingincome increase (decrease) if the proposal is implemented?2-b. Would you recommend the increased advertising?Complete this question by entering your answers in the tabs below.Req 1Req 2AReq 2BPrepare a contribution format income statement segmented by divisions.DivisionTotal CompanyEastCentralWestReq 1Req 2A >

Fixed expenses of a company includes both traceable and non-traceable expenses. Calculation of…

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: $ 1,634,000 620,300 1,013,700 1,115,000 $ (101,300) Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) 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: Division East Central West Sales $394,000 $690,000 29% $550,000 378 Variable expenses as a percentage of sales Traceable fixed expenses 55% $291,000 $330,000 $206,000

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: $ 1,634,000 620,300 1,013,700 1,115,000 $ (101,300) Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) 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: Division East Central West Sales $394,000 $690,000 29% $550,000 378 Variable expenses as a percentage of sales Traceable fixed expenses 55% $291,000 $330,000 $206,000

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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How to calculate this using the Periodic Weighted Formula method & the Perpetual FIFO method
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What about the cost of goods sold?
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