?45% wed 2:01 PM a okmarks People Window Help Problem 8-4 Suede Jackets Leather

Question

?45% wed 2:01 PM a okmarks People Window Help Problem 8-4 Suede Jackets Leather jackets 450,000 134,000 29,000 Variable cost of goods sold 213,000 38,000 Direct fixed overhead and administrative expense was estimated to be Asales commission of 2% of sales is paid for each of the two product ines. Dree feed selling a $32,000 for the leather Jackets and $66,000 for the suede jackets. Common fixed overhead for the factory was estimated to be $83,000 and common selling and administrative expense was estimated to be $14,000. Prepare a segmented income statement for Mario Co. for the coming year, using variable costing. Enter all amounts as positive numbers Mario Co Segmented Income Statement Leather Jackets Suede Jackets Total Varlable cost of goods soldY Variable selling expense Contribution margin Less dinect fixed expenses Direct fixed overhead sk 8 9 0

Explanation / Answer

Mario Co. Segmented Income Statement For the Comong Year Leather Jackets Suede Jackets Total Sales    450,000.00    542,000.00    992,000.00 Variable Cost o Goods Sold    134,000.00    213,000.00    347,000.00 Variable Selling Expense - 2% of Sales        9,000.00      10,840.00      19,840.00 Contribution Margin    307,000.00    318,160.00    625,160.00 Less: Direct Fixed Expenses: Direct Fixed Overhead      29,000.00      38,000.00      67,000.00 Direct Selling & Administrative Expense      32,000.00      66,000.00      98,000.00 Segment Margin    246,000.00    214,160.00    460,160.00 Less: Common Fixed Expenses: Common Fixed Overhead      83,000.00 Common Selling & Administrative Expense      14,000.00 Operating Income    363,160.00

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