Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below: Sales revenues, Apparel $ 735,000 Variable expenses, Apparel $ 342,000 Traceable fixed expenses, Apparel $ 174,000 Sales revenues, Accessories $ 777,000 Variable expenses, Accessories $ 426,000 Traceable fixed expenses, Accessories $ 125,000 Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and $246,000 to the Accessories business segment. Required: Prepare a segmented income statement in the contribution format for the company.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below:

Sales revenues, Apparel $ 735,000
Variable expenses, Apparel $ 342,000
Traceable fixed expenses, Apparel $ 174,000
Sales revenues, Accessories $ 777,000
Variable expenses, Accessories $ 426,000
Traceable fixed expenses, Accessories $ 125,000

Common fixed expenses totaled $433,000 and were allocated as follows: $187,000 to the Apparel business segment and $246,000 to the Accessories business segment.

Required:

Prepare a segmented income statement in the contribution format for the company.

 
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