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Mini-Exercise 15-7(Algo) Segmented income statement LO 15-8 ABC Company operates two divisions with the...

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Accounting

Mini-Exercise 15-7(Algo) Segmented income statement LO 15-8
ABC Company operates two divisions with the following sales and expense information for the month of May:
Division 1: sales, $142,000; contribution margin ratio, 50%; direct fixed expenses, $29,500.
Division 2: sales, $96,500; contribution margin ratio, 70%; direct fixed expenses, $18,750.
ABC Company's total fixed expenses during May was $119,800
Required:
Prepare a segmented income statement for ABC Company to determine the segment margin for Divisions 1 and 2 and the operating
income for ABC Company.
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