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Income Statements Segmented by Products- Clay Consulting Firm provides three types of client services in three..

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Question;Income Statements Segmented by Products;Clay Consulting Firm provides three types of client services in three;health-care-related industries. The income statement for July is as follows;Clay Consulting Firm;Income Statement;For Month of July;Sales;$900,000;Less;variable costs;(601,000);Contribution;margin;299,000;Less;fixed expenses;Service;$70,000;Selling;and administrative;65,000;(135,000);Net;income;$164,000;The sales, contribution margin ratios, and direct fixed;expenses for the three types of services are as follows;Hospitals;Physicians;Nursing Care;Sales;$310,000;$290,000;$300,000;Contribution;margin ratio;30%;40%;30%;Direct;fixed expenses of services;$18,000;$21,000;$13,000;Allocated;common fixed service expenses;$1,000;$1,000;$1,500;Prepare income statements segmented by client categories.;Include a column for the entire firm in the statement.;Clay Consulting Firm;Product and Company Income Statements;For the Month of July;Hospitals;Physicians;Nursing Care;Company Totals;Sales;$Answer;$Answer;$Answer;$Answer;Variable;costs;Answer;Answer;Answer;Answer;Contribution;margin;Answer;Answer;Answer;Answer;Direct;fixed expenses;Answer;Answer;Answer;Answer;Product;margin;Answer;Answer;Answer;Answer;Allocated;common costs;Answer;Answer;Answer;Answer;Product;income;$Answer;$Answer;$Answer;Answer;Unallocated;common expenses;Selling;and administrative;Answer;Service;(less allocated expenses/costs);Answer;Total;Answer;Net;income;$Answer

 

Paper#37812 | Written in 18-Jul-2015

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