EXERCISE $6-7$ Segmented Income Statement $$ L $06-4$

Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $$500,000,46\%,$ and $$10,000,$ respectively. The North Division's contribution margin and contribution margin ratio are $$150,000$ and $50\%,$ respectively. The South Division's segment margin is $$30,000.$ The company has $$90,000$ of common fixed expensts that cannot be traced to either division.

Required: $q,$

Prepare a segmented income statement for Shannon Company using the contribution format. For the company as a whole and for each division, show each item on the segmented income statements as a percent of sales.

Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $$500,000,46\%,$ and $$10,000,$ respectively. The North Division's contribution margin and contribution margin ratio are $$150,000$ and $50\%,$ respectively. The South Division's segment margin is $$30,000.$ The company has $$90,000$ of common fixed expensts that cannot be traced to either division.

Required:

Prepare a segmented income statement for Shannon Company using the contribution format. For the company as a whole and for each division, show each item on the segmented income statements as a percent of sales.