Preparation of Responsibility Income Statements

question 50

Essay

Preparation of responsibility income statements
Hal-Marts,Inc.has two sales departments: equipment and clothing.During February,these two departments reported the following operating results: 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.(Round your percentage computations to nearest whole percent)

Understand and apply concepts of currency conversion and exchange rates.

Apply ratio and proportion knowledge to calculate overhead allocations and refund amounts.

Evaluate and solve problems involving additional investments to maintain original investment ratios.

Calculate the required increase in resources to meet specified ratios.

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