Variable Costing and Segment Reporting : Tools for Management b . The company is the exclusive distributor for two products - Paks and Tibs . Sales of Paks and Tibs totaled $50, 000 and $ 250, 000 , respectively , in the Northern territory during June . Vari - able expenses are 27% of the selling price for Packs and 58% for Tibs . Cost records show that $30,000 of the Northern territory's fixed expenses are traceable to Paks and $40.0100 to Tibs . with the remainder common to the two products . Required :" 1 . Prepare contribution format segmented income statements first showing the total company broken down between sales territories and then showing the Northern territory broken down by product line . 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 . 2. Look at the statement you have prepared showing the total company segmented by sales terri - tory . What insights revealed by this statement should be brought to the attention of management !" Look at the statement you have prepared showing the Northern territory segmented by product lines . What insights revealed by this statement should be brought to the attention of management