Michaels company segments its income statement into its

Assignment Help Accounting Basics

Reference no: EM13602701

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 $600,000, 50%, and $50,000, respectively. The West Division's contribution margin and contribution margin ratio are $150,000 and 75%, respectively. The East Division's segment margin is $70,000. The company has $60,000 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.

Reference no: EM13602701

Questions Cloud

On april 2 a corporation prchased for cash 5000 shares of : on april 2 a corporation prchased for cash 5000 shares of its own 10 par common stock at 26 a share. they sold 3000 of

Below is the complete list of accounts of fightin blue hens : below is the complete list of accounts of fightin blue hens incorporated and the related balance at the end of march.

Double eagle corporation produces the prestigious double : double eagle corporation produces the prestigious double eagle golf ball in one department using a process costing

If management accountants dont have to follow gaap in their : if management accountants dont have to follow gaap in their reporting and have the freedom of more customized

Michaels company segments its income statement into its : michaels company segments its income statement into its east and west divisions. the companys overall sales

The following information in millions of dollars is : the following information in millions of dollars is available for designer brands for 2007 sales revenue 12580 net

Allocate the overhead costs to the producing departments : charlie company manufactures a high spf sunscreen lotion using two producing departments mixing and bottling. three

Stan loy owns the vista barber shop he employs 5 barbers : stan loy owns the vista barber shop. he employs 5 barbers and pays each a base rate of 1070 per month. one of the

Around 500 wordsharvard professor robert kaplan is : around 500 words.harvard professor robert kaplan is recognised as one of the lsquofounding fathers responsible for the

User Account

All Pages