Spiess Corporation has two major business segments--Apparel and Accessories. Data concerning those segments for December appear below: Sales revenues, Apparel$370,000 Variable expenses, Apparel$185,000 Traceable fixed expenses, Apparel$48,000 Sales revenues, Accessories$670,000 Variable expenses, Accessories$275,000 Traceable fixed expenses, Accessories$114,000 Common fixed expenses totaled $309,000 and were allocated as follows: $142,000 to the Apparel business segment and $167,000 to the Accessories business segment. Required:Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.
What will be an ideal response?
| Total Company | Apparel | Accessories | ||||||
| Sales | $ | 1,040,000 | $ | 370,000 | $ | 670,000 | ||
| Variable expenses | 460,000 | 185,000 | 275,000 | |||||
| Contribution margin | 580,000 | 185,000 | 395,000 | |||||
| Traceable fixed expenses | 162,000 | 48,000 | 114,000 | |||||
| Segment margin | 418,000 | $ | 137,000 | $ | 281,000 | |||
| Common fixed expenses | 309,000 | |||||||
| Net operating income | $ | 109,000 | ||||||
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