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.)
|