Segmented Income Statement
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Spiess Corporation has two major business segment--Apparel and Accessories. Data concerning those segments for December appear below:
Sales revenues, Apparel $370,000
Variable expenses, Apparel $185,000
Traceable fixed expenses, Apparel $48,000
Sales revenues, Accessories $670,000
Variable expenses, Accessories $275,000
Traceable fixed expenses, Accessories $114,000
Common fixed expenses totaled $309,000 and were allocated as follows: $142,000 to the Apparel business segment and $167,000 to the Accessories business segment.
Required:
Prepare a segmented income statement in the contribution format for the company.
Show dollar amounts and percentages of Total Company sales.
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Solution Summary
This solution creates a segmented income statement in contribution format.
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