Michaels company segments its income statement into its

Reference no: EM13601286

Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $660,000, 56%, and $53,000, respectively. The West Division's contribution margin and contribution margin ratio are $151,000 and 78%, respectively. The East Division's segment margin is $78,000. The company has $55,000 of common fixed costs that cannot be traced to either division.

Required:
Prepare an income statement for Michaels Company that uses the contribution format and is segmented by divisions.
divisions
total company East west
Amount % amount % amont %
sales
variable expenses
contribution margin
traceable fixed expenses
territorial segment margin
common fixed expenses
net operating income(loss)

Reference no: EM13601286

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