Raner, Harris and Chan is a consulting firm specializing in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. It classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company's most recent year is given below: Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Net operating income Total Company $ 531,000 265,500 265,500 148,680 116,820 74,340 $ 42,480 100.00% 50.00% 50.00% 28.00% 22.00% 14.00% 8.00% Chicago $ 177,000 53,100 123,900 92,040 $ 31,860 Office 100.00% 30.00% 70.00% 52.00% 18.00% Minneapolis $ 354,000 212,400 141,600 56,640 $ 84,960 100.00% 60.00% 40.00% 16.00% 24.00%

A taxpayer filing status is married filing jointly they have a  1065 k-1 with foreign taxes of $550 in box 16 this amount is not showing as a credit on form 1040 is the following a possible reason for the problem.    A. Gross income sourced at the partner level may not have been entered on form 1116 foreign gross income is required in order to claim foreign tax credit or deduction.   B. The type of foreign income general or passive category has been identified on form 1116 part | |   C. The taxpayer does not have any federal tax liability.

Gough Corporation has two divisions. Domestic and Foreign. Data from the most recent month appears below: 6. Total Company $668,000 Domestic Foreign $321,000 147,660 173,340 134,000 $ 39,340 Sales... Variable expenses. Contribution margin. Traceable fixed expenses. 220,530 447,470 335,000 112,470 $347,000 72,870 274,130 201,000 $ 73,130 Segment margin.. Common fixed expenses.. 73,480 $ 38,990 Net operating income.. The break-even in sales dollars for the company as a whole is closest to: A. $502,579 B. $107,216 C. $436,424 D. $609,794

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Davenport Incorporated has two divisions, Howard and Jones. The following is the segmented income statement for the past month:   Howard Jones Total Sales revenue $ 800,000 $ 600,000 $ 1,400,000 Variable costs 400,000 480,000 880,000 Contribution margin $ 400,000 $ 120,000 $ 520,000 Direct fixed costs 200,000 100,000 300,000 Segment margin $ 200,000 $ 20,000 $ 220,000 Fixed costs (allocated) 150,000 150,000 300,000 Net operating income (loss) $ 50,000 $ (130,000) $ (80,000) What would Davenport's income (loss) be if the Jones Division was dropped?

All products at Luke Corp. are allocated a portion of corporate overhead costs, which is computed as a percent of product revenue. The percentage rate is based on the level of corporate costs as a percentage of revenues. Data on corporate costs and revenues for the past two years were stated as:   Corporate Revenue Corporate Overhead Costs   Most recent year $ 112,750,000 $ 10,237,500   Previous year $ 76,200,000 $ 7,921,000   Using the data in the table apply the high low method (based on revenues) to determine the variable corporate overhead costs per sales dollar. Round to the nearest 0.001.

PC Solutions, Inc. provides services to corporate and individual customers. During the month of June, the corporate business segment provided services to 500 customers and earned $60,000 in revenue. The individual business segment provided services to 200 customers and earned $40,000 in revenue. The variable costs for the corporate and individual business segments amounted to $33,000 and $25,000, respectively. In addition, the fixed costs of the company amounted to $7,500. Calculate the contribution margin from each customer of the individual business segment. (Round your answer to the nearest cent.) O A. $37.50 OB. $54.00 OC. $39.00 OD. $75.00

Bed & Bath, a retailing company, has two departments-Hardware and Linens. The company's most recent monthly contribution format income statement follows: Sales Variable expenses Fixed expenses Contribution margin Net operating income (loss) 1,307,000 Department Total $ 4,210,000 Hardware $ 3,040,000 Linens $ 1,170,000 403,000 767,000 840,000 $ (73,000) 2,903,000 2,290,000 $ 613,000 904,000 2,136,000 1,450,000 $ 686,000 A study indicates that $379,000 of the fixed expenses being charged to Linens are sunk costs or allocated costs that will continue even if the Linens Department is dropped. In addition, the elimination of the Linens Department will result in a 15% decrease in the sales of the Hardware Department. Required: What is the financial advantage (disadvantage) of discontinuing the Linens Department? Financial (disadvantage)

Middleton Associates is a consulting firm that specializes in information systems for construction and landscaping companies. The firm has two offices-one in Toronto and one in Vancouver. The firm classifies the direct costs of consulting jobs as variable costs. A segmented contribution format income statement for the company's most recent year is given below: Office Sales Variable expenses Contribution margin Traceable fixed expenses Office segment margin Common fixed expenses not traceable to offices Operating income Increase in operating income $ Total Company $900,000 100.0% 414,000 46.00 486,000 54.00 187,200 20.80 298,800 33.20 Required: 1. By how much would the company's operating income increase if Vancouver increased its sales by $87,000 per year? Assume no change in cost behaviour patterns. 43,500 117,000 13.00 $181,800 20.20% Toronto Vancouver $120,000 100% $780,000 100% 390,000 50 24,000 20 96,000 80 390,000 50 140,400 18 46,800 39 $ 49,200 41% $249,600 32% 2-a. Refer to…

Mach Co. operates three manufacturing departments as profit centers. The following information is available for its most recent year: Dept. Sales 1 2 3 $1,100,000 430,000 710,000 Cost of goods sold $735,000 156,500 305,000 Direct expenses Indirect expenses $110,000 $85,000 40,200 105,000 165,000 21,000 Which department has the greatest departmental contribution to overhead and what is the amount contributed? Group of answer choices Dept. 3; $430,000 Dept. 1; $255,000 Dept. 2; $110,000 Dept. 3; $240,000 Dept. 2; $156,500