The Gregory Company Provided the Following Information Variable Costs Required:
Prepare a Contribution Approach Income Statement for the Whole

question 112

Essay

The Gregory Company provided the following information:
$\begin{array}{llll}&\text { Whole } & \text { Uttice } & \text { Factory } \\&\text { Company } & \text { Division } & \text { Division }\\\text { Net sales } & \$ 99,000 & \$ 66,000 & \$ 33,000 \\\text { Fixed costs controllable by div. managers } & 16,000 & 10,000 & 6,000 \\\text { Fixed costs controllable by others } & 10,000 & 5,000 & 5,000\end{array}$
Variable costs:
$\begin{array} { l } \text {Cost of merchandise sold }&38,000&22,000&16,000 \\ \text {Operating expenses }&8,000&5,000&3,000 \\ \text {Unallocated costs }&6,000 \\\end{array}$

Required:
Prepare a contribution approach income statement for the whole company and for each division.

Analyze the costs and effects of tariffs and quotas on international trade.

Examine the major imports and exports of the United States and their significance in global trade.

Discuss different production resource intensities and provide examples.

Compare the effectiveness of tariffs and quotas in blocking imports.

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