Forth Corporation has two major business segments-Retail and Wholesale. In March, the Retail business segment had sales revenues of $500,000, variable expenses of $245,000, and traceable fixed expenses of $90,000. During the same month, the Wholesale business segment had sales revenues of $240,000, variable expenses of $101,000, and traceable fixed expenses of $38,000. Common fixed expenses totaled $152,000 and were allocated as follows: $79,000 to the Retail business segment and $73,000 to the Wholesale business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Question

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The Answer of Forth Corporation has two major business segments-Retail and Wholesale. In March, the Retail business segment had sales revenues of $500,000, variable expenses of $245,000, and traceable fixed expenses of $90,000. During the same month, the Wholesale business segment had sales revenues of $240,000, variable expenses of $101,000, and traceable fixed expenses of $38,000. Common fixed expenses totaled $152,000 and were allocated as follows: $79,000 to the Retail business segment and $73,000 to the Wholesale business segment.
Required:
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

Forth Corporation Has Two Major Business Segments-Retail and Wholesale