Camren Corporation has two major business segments-Apparel and Accessories. Data

Question

Camren Corporation has two major business segments-Apparel and Accessories. Data concerning those segments for October appear below:

Common fixed expenses totaled $373,000 and were allocated as follows: $154,000 to the Apparel business segment and $219,000 to the Accessories business segment.

Prepare a segmented income statement in the contribution format for the company. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Camren Corporation has two major business segments-Apparel and Accessories. Data concerning those segments for October appear below:

  Sales revenues, Apparel $ 692,000   Variable expenses, Apparel $ 302,000   Traceable fixed expenses, Apparel $ 146,000   Sales revenues, Accessories $ 787,000   Variable expenses, Accessories $ 479,000   Traceable fixed expenses, Accessories $ 124,000

Common fixed expenses totaled $373,000 and were allocated as follows: $154,000 to the Apparel business segment and $219,000 to the Accessories business segment.

Required:

Prepare a segmented income statement in the contribution format for the company. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Total Apparel Accessories    $ $ $             $ $       $

Explanation / Answer

Description Total $ Apparel $ Accessories $ Sales Revenue $1,479,000 $692,000 $787,000 Variable Expenses $781,000 $302,000 $479,000 Contribution Margin $698,000 $390,000 $308,000 Traceable Fixed Expenses $270,000 $146,000 $124,000 Common Fixed Expense $373,000 $154,000 $219,000 Total Fixed Expenses $643,000 $300,000 $343,000 Divisional Segment Profit $55,000 $90,000 -$35,000

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