Gemini Technologies has two product lines: lasers and integrated circuits. During the current month, the...
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Accounting
Gemini Technologies has two product lines: lasers and integrated circuits. During the current month, the two product lines reported the following results:
Lasers
Circuits
Sales
$
600,000
$
800,000
Variable costs (as a percentage of sales)
40
%
60
%
Traceable fixed costs
$
200,000
$
250,000
In addition, fixed costs common to both product lines amounted to $80,000.
Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each product line. (Input all numbers as positive values. Round your percentage answers to 2 decimal place. Omit the "$" and "%" signs in your response.)
GEMINI TECHNOLOGIES Responsibility Income Statement For the Current Month
Entire Company
Laser Line
Integrated Circuits Line
Dollars
Percent
Dollars
Percent
Dollars
Percent
$
$
$
$
$
$
$
$
Product responsibility margin
$
$
$
Income from operations
$
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