Data for December concerning Dinnocenzo Corporations two major business segments

Question

Data for December concerning Dinnocenzo Corporations two major business segments fibers and feedstocks: Sales Revenue fibers $870,000 Sales Revenue Feedstock $820,000 Variable Expense fibers $426,000 Variable Expense Feedstock $344,000 Traceable Fixed expenses fibers $148,000 Traceable Fixed Expenses Feedstock $156,000 Prepare a segmented income statement in the contribution format for the company. Omit percentage show only dollar amounts. please show how you arrived at the answers to the questions.

Explanation / Answer

                                                               Fibers                         Feedstocks
Sales Revenues                                       $870,000                        $820,000
Variable expenses                                   $426,000                        $344,000 Contribution                                           $444,000                        $476,000
Traceable fixed expenses                        $148,000                        $156,000
Gross Income                                        $296,000                        $320,000
Common fixed expenses                          $129,000                        $185,000      Net Income                                        $167,000                         $135,000

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