Date for January for Bondi Corporation and its two major business segments, North and South, appear below Sales revenues, North Variable expenses, North $ 660,000 $ 383,000 $ 79,000 Traceable fixed expenses, North Sales revenues, South Variable expenses, South $ 510,000 $ 291,000 $ 66,000 Traceable fixed expenses, South addition, common faed expenses totaled $179.000 and were allocated as follows $93,000 to the North business segment and $86,000 to the South business segment properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is Multiple Choice

Date for January for Bondi Corporation and its two major business segments, North and South, appear below Sales revenues, North Variable expenses, North $ 660,000 $ 383,000 $ 79,000 Traceable fixed expenses, North Sales revenues, South Variable expenses, South $ 510,000 $ 291,000 $ 66,000 Traceable fixed expenses, South addition, common faed expenses totaled $179.000 and were allocated as follows $93,000 to the North business segment and $86,000 to the South business segment properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is Multiple Choice

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...

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Data for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 660,000 $ 383,000 $ 79,000 $ 510,000 $291,000 $ 66,000 In addition, common fixed expenses totaled $179,000 and were allocated as follows: $93,000 to the North business segment and $86,000 to the South business segment. The contribution margin of the South business segment is
Data for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 759,000 $ 440,500 $ 90,900 $ 586,800 $ 334,900 $ 76,000 In addition, common fixed expenses totaled $206,000 and were allocated as follows: $107,000 to the North business segment and $99,000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
Lechon Company provided the following data for the current year: Sales Cost of goods sold Expenses Depreciation Income tax expense The entity has two major reportable segments, A and B. An analysis revealed that P1,000,000 of the total depreciation expense and P2,000,000 of the expenses are related to general corporate activities. The remaining expenses and sales are directly allocable to segment activities according to the following percentages: Sales Cost of goods sold Expenses Depreciation P60,000,000 28,000,000 14,000,000 4,000,000 4,000,000 Segment A 40% 35 40 40 Segment B 45% Others 15% 15 20 15 50 40 45 What amount should be reported as net income of Segment A?
In the income statement for the current year, the entity which is subject to the requirements of segment report, reported external sales of P60,000,000, internal sales of P5,000,000, expenses of P45,000,000. The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue that should be disclosed by reportable segments?
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. Please see the attachment for details: a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round to the nearest whole percentage.b. As far as the data permit, comment on significant relationships revealed by the comparisons.
Colorway Inc. had total assets of P65,000,000 at year end and provided the following condensed income statement for the current year: Sales 45,000,000 Expenses (33,000,000) Income before income tax 12,000,000 Income tax expense (3,800,000) Net Income 8,200,000 The entity has two reportable segments and has developed the following related information: Segment A Segment B Others Sales 25,000,000 15,000,000 5,000,000 Segment expenses 18,000,000 9,000,000 4,000,000 Segment assets 35,000,000 18,000,000 7,000,000 The total assets of P65,000,000 include general corporate assets of P5,000,000. The total segment expenses of P33,000,000 include general corporate expenses of P2,000,000. The chief operating decision maker does not allocate income tax as a measure of profit or loss. Required: 1 Prepare the necessary disclosures for Colorway Inc. in relation to operating segments. 2 Prepare the reconciliations between segment information and amount shown in the entity's financial statements.
Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 2018, are as follows: cost of goods sold, $510,700; administrative expenses, $63,600; interest expense, $38,000; rent revenue, $127,200; sales, $826,800; and selling expenses, $95,400. Prepare a single-step income statement. Custom Wire & Tubing Company Income Statement For the Year Ended April 30, 2018 Revenues: $ Total revenues $ Expenses: $ Total expenses $
Z Company provided the following information pertaining to operating segments for the year ended December 31, 2020: Total revenue: P 80,000,000 Sales to internal customers included in total revenue: P 50,000,000 External revenue reported by reportable operating segments must be at least what amount?
Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 20Y2, are as follows: cost of goods sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000. Prepare a single-step income statement.
The accountant for Batanes Company prepared the following income statement and retained earnings statement for the year ended December 31, 20x1: Batanes Corporation Income Statement For the Year Ended December 31, 20x1 Sales Revenue P1,568,000 Less: Selling expenses (156,800) Net Sales P1,411,200 Add: Interest income 18,400 Gain on sale of equipment 25,600 Gross Sales Revenue P1,455,200 Less: Cost of Operations Cost of goods sold P960,800 Correction of overstatement in last year's income due to error (net of P13,200 income tax credit) 30,800 Dividend costs (P4 per share) 32,000 Loss due to earthquake 33,600 (1,057,200) Income before income tax P398,000 Less: Income tax on income from continuing operations (99,840) Income after income tax P298,160 Miscellaneous…
Consider the following income statement data from the Ross Company: Current Year Prior Year $962,500 $720,000 582,960 440,820 182,175 156,420 104,100 79,000 13,533 8,532 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. (Round percentages to one decimal.) Ross Company Comparative Income Statements Sales revenue Cost of goods sold Gross profit on sales Operating expenses Selling expenses Administrative expenses Total Income before income taxes Income tax expense Net income $ $ LA Current Year Prior Year (Decrease) $ $ Increase Percent Change $ LA
[The following information applies to the questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 156,000 Income Tax Expense Net Sales 15, 120 253,890 18,100 36,600 Office Expense Salaries and Wages Expense Required: 1. Prepare a multistep income statement for external reporting purposes. MYSTERY INCORPORATED Income Statement ---