Hal-Marts, Inc., has two sales departments: equipment andclothing. During February, these two departments reported the following operating results:
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Equipment
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Clothing
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Sales
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$490,000
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$250,000
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Contribution margin
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35%
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50 %
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Traceable fixed cost
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$29,200
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$26,800
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In addition, fixed costs common to both departments amounted to$54,400.
Complete the following responsibility income statement for Hal-Marts, Inc. Follow the contribution margin approach, and show percentages as well as dollar amounts. Conclude your income statement with the company's income from operations.
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HAL-MARTS, INC
Income Statement by Product Lines
For the Month Ended February 28, 20__
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Segments
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HAL-Marts, Inc.
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Equipment
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Clothing
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Dollars
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%
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Dollars
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%
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Dollars
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õ x.Hm |
%
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Sales
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$490,000
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$250,000
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Contribution margin
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