Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ch 6 exer 9 shannon company segments its inco

ch 6 exer 9 Shannon Company segments its income statement...

50.1K

Verified Solution

Question

Accounting

ch 6 exer 9

Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $780,000, 50%, and $62,400, respectively. The North Divisions contribution margin and contribution margin ratio are $247,500 and 75%, respectively. The South Divisions segment margin is $68,000. The company has $117,000 of common fixed expenses that cannot be traced to either division.

Required:

Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3))
Divisions
Total Company North South
Amount % Amount % Amount %

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suppose a retailer claims that the average wait time for a customer on its support line...

Statistics
Q

The table of diprotic acids below shows how the acidity of the 1st proton is always...

Chemistry
Q

For 540.0mL of a buffer solution that is 0.165M in CH3CH2NH2 and 0.155M in CH3CH2NH3Cl, calculate...

Chemistry
Q

in a rectangular wave guide for which a = 1.5cm b=0.8cm o=0,m =m0 and E=4e0 Hz=...

Electrical Engineering
Q

5)   Solve 2yy’’ = 1 + (y’)^2

Advance Math
Q

C3bcauses chemotaxis of neutrophils to the areabinds to both the surfaces of microorganisms and receptors...

Biology
Q

47 50 Expressions Involving Inverse Trigonometric Functions Write the given expression in terms of x...

Calculus
Q

f x f 2 x 4x 3 x 6x7 imum lim f x I 2...

Calculus
Q

How many and what parties are involved in a deed of trust OA Two the...

Algebra
Q

One reason for writing...

Accounting
Q

Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company reported...

Accounting
Q

Chapter 12 Exercises Saved Futura Company purchases the 79,000 starters that it installs in its...

Accounting