Pratt Corporation has two major business segments-Apparel and Accessories. Data concerning those segments for October appear below: Common fixed expenses totaled $153,000 and were allocated as follows: $73,000 to the Apparel business segment and $80,000 to the Accessories business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Question

Pratt Corporation has two major business segments-Apparel and Accessories. Data concerning those segments for October appear below:  Common fixed expenses totaled $153,000 and were allocated as follows: $73,000 to the Apparel business segment and $80,000 to the Accessories business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Quizplus · Accepted Answer

The Answer of Pratt Corporation has two major business segments-Apparel and Accessories. Data concerning those segments for October appear below:  Common fixed expenses totaled $153,000 and were allocated as follows: $73,000 to the Apparel business segment and $80,000 to the Accessories business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Pratt Corporation Has Two Major Business Segments-Apparel and Accessories