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Prepare segmented income statement in contribution format

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Reference no: EM132072823

Question - Data for December concerning Ash Corporation's two major business segments-Fibers and Feedstocks-appear below.

Sales revenues, Fibers

$950,000

Sales revenues, Feedstocks

$900,000

Variable expenses, Fibers

$525,000

Variable expenses, Feedstocks

$424,000

Traceable fixed expenses, Fibers

$148,000

Traceable fixed expenses, Feedstocks

$156,000

Common fixed expenses totaled $292,000 and were allocated as follows: $155,000 to the Fibers business segment and $137,000 to the Feedstocks business segment.

Required: Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Reference no: EM132072823

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