Problem
Ginger Corporation has two major business segments-Herbs and Spices. Data concerning those segments for June appear below.
Sales revenues, Herbs $475,000
Variable expenses, Herbs $262,500
Traceable fixed expenses, Herbs $78,000
Sales revenues, Spices $450,000
Variable expenses, Spices $225,000
Traceable fixed expenses, Spices $65,000
Common fixed expenses totaled $195,000 and were allocated as follows: $85,000 to the Herbs business segment and $110,000 to the Spices business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.