Question: Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results: Sales Hardware $

Nicholas Technologies operates two divisions: Hardware Services and Software Services. During the current month, the two divisions reported the following results: Sales Hardware $ 670,000 Software $ 950,000 Variable costs (as a percentage of sales) Traceable fixed costs 40% 45% $ 250,000 $ 125,000 In addition, fixed costs common to both divisions amounted to $219,000. Required: Prepare the company's responsibility income statement for the current month. Report the responsibility margin for each division and income from operations for the company as a whole. Also include columns showing all dollar amounts as percentages of sales. Note: Round your percentage answers to the nearest whole percent. NICHOLAS TECHNOLOGIES Responsibility Income Statement For the Current Month Entire Company Hardware Services Division Software Services Division Dollars Percent of Sales Dollars % Percent of Sales % Dollars Percent of Sales % $ 0 0% $ 0 0% $ 0 0% $ 0 0% $ 0 0% $ 0 0% $ 0 0%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Answer To prepare the responsibility income statement for Nicholas Technologies we can start by calc... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

6 . 4 . Investment Analysis The investment analysis part of your business plan is the section in which you will provide a comprehensive assessment of your business, mainly based on your projected...

Calculate the present value of the income streams A to E in Table 1 at an 8 percent interest rate and again at a 10 percent rate. Suppose the investment behind the flow of income in E is a machine...

D. 2.01 5. 10-97 Spice Company has two divisions, Parsley and Sage. Parsley produces a unit that Sage could use in its production. Sage currently is purchasing 49,800 units from an outside supplier...

8 Assume a company reported the following results: Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) What is the return on investment? ? $ 120,000 $...

The evidence suggests that the benefit of becoming a skilled financial advisor may far exceed the cost. Discuss why this would be true.

What are counting techniques, trees, permutations, and combinations?

Using the Birth Weight data set with the response variable LOW, fit the model logit(????) = ????0 + ????1AGE + ????2 LWT + ????3 SMOKE and then (a) test the goodness-of-fit for this model. (b) create...

During your examination of the financial statements of Martin Mfg. Co., a new client, for the year ended March 31, 20X0, you note the following entry in the general journal dated March 31, 20X0: Your...

Problem 6 - 2 6 Project Analysis and Inflation Shinoda Manufacturing, Incorporated, has been considering the purchase of a new manufacturing facility for $ 5 9 0 , 0 0 0 . The facility is to be fully...

As a part folo manager, assume the folbung information: The bela of your portfolio 1.2 your perfomane is erstly on target with the SML data under condition 1 Assume the true SML data is given under...

A Carnot heat engine is connected to a heat pump as shown in the figure. Based on the information given on the figure, determine the total rate of heat rejection to the ambient at 40C. 550C 600...

18-39 Physical units, inspection at various levels of completion, weighted-average process costing. SunEnergy produces solar panels. A key step in the conversion of raw silicon to a completed solar...

Describe Platform Marketing. In your description, be sure to include the central role of the customer in this approach to marketing. To implement Platform Marketing we need to to understand what...

2.87 A mass m is attached at the end of a bar of negligible mass and is made to vibrate in three different configurations, as indicated in Fig. 2.97 . Find the configuration corresponding to the...

Persuading University Students to Start a Saving Account 1-Assume the role of a banker, create a message that targets university students and persuades them to start a retirement account. (2 Marks)...

Using DEV c++ Write C++ program that will do file processing. First, create a data file (A11_in.txt). It can contain any number (no fewer than 3) integers, each integer on its own line. Your program...

Sandcastles, Inc.s management has recently been looking at a proposal to purchase a new brick molding machine. With the new machine, the company would not have to buy bricks. The estimated useful...

Amber Companys assets total $150,000 and its liabilities total $85,000. What is the amount of Ambers retained earnings if its capital stock amounts to $50,000?

Mumford Corporation invested $30,000 in marketable securities on December 4. On December 9, it sold some of these investments for $10,000, and on December 18, it sold more of these investments for...

Explain the significance of measuring a companys return on equity.

Refer to the data sets in Exercises 17, reproduced below. Use the data entry method in your scientific calculator to enter the measurements. Recall the proper memories to find the y-intercept, a, and...

Calculate the sums of squares and cross-products, Sxx and Sxy. Find the least-squares line for the data. Plot the points and graph the line on the same graph. Does the line appear to provide a good...

Refer to the data sets in Exercises 18, reproduced below. Use the data entry method in your scientific calculator to enter the measurements. Recall the proper memories to find the y-intercept, a, and...