Creating segmented income statement


Q1) Fausnaught Corporation has two main business segments -Retail and Wholesale. In October, Retail business segment had sales revenues of= $730,000, variable expenses of= $409,000, and traceable fixed expenses of $117,000. In the same month, Wholesale business segment had sales revenues of= $400,000, variable expenses of= $220,000, and traceable fixed expenses of= $48,000. Common fixed expenses totaled= $218,000, and were allocated as follows: $122,000 to Retail business segment and $96,000 to Wholesale business segment.

Create segmented income statement in contribution format for company. Omit percentages; show dollar amounts.

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Accounting Basics: Creating segmented income statement
Reference No:- TGS018117

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