User Account

All Pages

Prepare income statement for shannon company

Assignment Help Cost Accounting
Reference no: EM132763542

Question - Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,110,000, 44%, and $22,200, respectively. The North Division's contribution margin and contribution margin ratio are $177,600 and 48%, respectively. The South Division's segment margin is $199,800. The company has $299,700 of common fixed expenses that cannot be traced to either division.

Required - Prepare income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales.

Reference no: EM132763542

Questions Cloud

How can banks take advantage of the opportunity : Big banks and the committee knew that the interest rates will increase within the next six months. How can banks take advantage of this opportunity?
What will be their payment amount : The graduate would make monthly payments for the next 10 years. If the student owes $25,000, what will be their payment amount
How many new bonds must jrj issue to raise : Pay $40 in interest every six months. If both bonds have the same yield to maturity, how many new bonds must JRJ issue to raise $2,000,000?
What is the present value of the debt tax shield : What is the present value of the debt tax shield if the debt has no maturity and if Harmony Ltd is subject to a 40 per cent company tax rate?
Prepare income statement for shannon company : Prepare income statement for Shannon Company that uses the contribution format and is segmented by divisions
Discuss two problems in relation to the measurement : Fair value poses some unique accounting problems. Identify and discuss two problems in relation to the measurement of biological assets using examples.
Prepare common-size comparative income statements : Prepare common-size comparative income statements for the two years for Mariners Corp. Round percentages to one decimal point
What amount of units sold in order to realize income : If fixed costs are $700,000 and the unit contribution margin is $14, what amount of units must be sold in order to realize an operating income of $100,000?
What is the name of the two accounts that would be credited : The journal entry on January 1, 2018 to borrow the money and purchase the car would debit the car asset. What is name of the two accounts that would be credited

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd