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Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $1,000,000 Suburban Outlying $800,000 $400,000 200,000 150,000 100,000 400,000 320,000 230,000 200,000 150,000 90,000 In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income-tax expense for the year is $145,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc.

Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $1,000,000 Suburban Outlying $800,000 $400,000 200,000 150,000 100,000 400,000 320,000 230,000 200,000 150,000 90,000 In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income-tax expense for the year is $145,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $1,000,000 Suburban $800,000 Outlying $400,000 200,000 150,000 100,000 400,000 320,000 230,000 200,000 150,000 90,000 In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income-tax expense for the year is $145,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc. Service revenue Variable expenses SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Segments of Company Countywide Cable Services Metro Suburban Outlying Segment contribution margin $ 0 $ 0 $ 0 $ 0 Less: Fixed expenses controllable by segment manager Profit margin controllable by segment manager $ 0 $ 0 $ 0 $ 0 Less: Fixed expenses, traceable to segment, but controllable by others Profit margin traceable to segment $ 0 $ 0 $ 0 $ 0 Less: Common fixed expenses Income before taxes $ 0 Less: Income tax expense Net income $ 0
Transcribed Image Text:Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $1,000,000 Suburban $800,000 Outlying $400,000 200,000 150,000 100,000 400,000 320,000 230,000 200,000 150,000 90,000 In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income-tax expense for the year is $145,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc. Service revenue Variable expenses SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Segments of Company Countywide Cable Services Metro Suburban Outlying Segment contribution margin $ 0 $ 0 $ 0 $ 0 Less: Fixed expenses controllable by segment manager Profit margin controllable by segment manager $ 0 $ 0 $ 0 $ 0 Less: Fixed expenses, traceable to segment, but controllable by others Profit margin traceable to segment $ 0 $ 0 $ 0 $ 0 Less: Common fixed expenses Income before taxes $ 0 Less: Income tax expense Net income $ 0
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