Countywide Cable Services, Incorporated, is organized with three segments: Metro, Suburban, and Outlying. Data for th for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $ 1,150,000 190,000 410,000 220,000 Suburban $ 950,000 140,000 330,000 190,000 Outlying $ 550,000 90,000 160,000 80,000 In addition to the expenses listed above, the company has $145,000 of common fixed expenses. Income-tax expense fo $345,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Incorporated. SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INCORPORATED Segments of Company Countywide

Countywide Cable Services, Incorporated, is organized with three segments: Metro, Suburban, and Outlying. Data for th for the year just ended follow. Service revenue Variable expenses Controllable fixed expenses Fixed expenses controllable by others Metro $ 1,150,000 190,000 410,000 220,000 Suburban $ 950,000 140,000 330,000 190,000 Outlying $ 550,000 90,000 160,000 80,000 In addition to the expenses listed above, the company has $145,000 of common fixed expenses. Income-tax expense fo $345,000. Required: 1. Prepare a segmented income statement for Countywide Cable Services, Incorporated. SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INCORPORATED Segments of Company Countywide

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the data below for the Ace Guitar Company: A Region B Region Sales $521,500 $968,500 Cost of goods sold 198,200 368,000 Selling expenses 125,200 232,400 Service department expenses Purchasing $250,300 Payroll accounting 166,900 Allocate service department expenses proportional to the sales of each region. Determine the divisional income from operations for the A and B regions. For interim calculations, round percentages to one decimal place. A Region $ B Region $
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Lasky Manufacturing has two divisions: Carolinas and Northeast. Lasky has a cost of capital of 7.5 percent. Selected financial information (in thousands of dollars) for the first year of business follows: Sales revenue Income Divisional assets (beginning of year) Current liabilities (beginning of year) RAD expenditures Carolinas $1,600 160 1,000 240 800 Northeast $5,500 Complete this question by entering your answers in the tabs below. 432 1,500 240 720 R&D is assumed to benefit two periods. All R&D is spent at the beginning of the year. Required: a-1. Evaluate the performance of the two divisions assuming Lasky Manufacturing uses economic value added (EVA). a-2. Which division had the better performance?
Using the data below for the Ace Guitar Company: A Region B Region Sales $500,000 $900,000 Cost of goods sold 200,000 300,000 Selling expenses 150,000 275,000 Support department expenses: Purchasing $90,000 Payroll accounting 30,000 Allocate support department expenses proportional to the sales of each region. Determine the divisional operating income for the A and B regions. For interim calculations, round percentages to one decimal place and all other amounts to the nearest whole dollar. A Region Operating Income $fill in the blank 1 B Region Operating Income $fill in the blank 2
Beau County Cable Services, Inc. is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended as follows: Metro Suburban Outlying Service Revenue ₱ 90,000 ₱ 70,000 ₱ 35,000 Variable Expenses 15,000 10,000 5,000 Controllable Fixed Expenses 30,000 25,000 10,000 Fixed Expenses controllable by others 20,000 15,000 5,000 In addition to the expenses listed above, the company has ₱6,000 common fixed expenses. The income tax expense for the year is ₱21,000. What is the segment margin associated with the Suburban Division? Show solution Group of answer choices ₱ 20,000 ₱ 35,000 ₱ 15,000 ₱ 25,000
Yozamba Technology has two divisions, Consumer and Commercial, and two corporate service departments, Tech Support and Purchasing. The corporate expenses for the year ended December 31, 20Y7, are as follows: Tech Support Department $800,100 Purchasing Department 258,000 Other corporate administrative expenses 455,000 Total corporate expense $1,513,100 The other corporate administrative expenses include officers’ salaries and other expenses required by the corporation. The Tech Support Department charges the divisions for services rendered, based on the number of computers in the department, and the Purchasing Department charges divisions for services, based on the number of purchase orders for each department. The usage of service by the two divisions is as follows: Tech Support Purchasing Consumer Division 390 computers 6,000 purchase orders Commercial Division 240 11,200 Total 630 computers 17,200 purchase orders The service department charges of the…
In divisional income statements prepared for Demopolis Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $51,792, and the Purchasing Department had expenses of $22,000 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records: Residential Commercial GovernmentContract Sales $ 460,000 $ 609,000 $ 1,399,000 Number of employees: Weekly payroll (52 weeks per year) 170 65 70 Monthly payroll 36 47 34 Number of purchase requisitions per year 2,100 1,500 1,400 a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division. Residential Commercial Government Contract…
Your Corporation has two divisions: A Division and B Division. The corporation's net operating income is $31,800. The A Division's divisional segment margin is S111,800 and the B Division's divisional segment margin is $152,800. What is the amount of the common fixed expense not traceable to the individual divisions? O $121,000 O $232,800 O $ 80,000 O $296,400
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During the current year, the City of Hickory Hills issued purchase orders to various vendors in the amounts shown for the following functions of the city: General Government $ 172,200 Public Safety 310,000 Public Works 232,400 Culture and Recreation 189,700 Health and Welfare 176,100 Miscellaneous 25,400 Total $ 1,105,800 All goods ordered during the year were received at the following actual costs: General Government $ 167,800 Public Safety 309,700 Public Works 234,800 Culture and Recreation 189,700 Health and Welfare 179,300 Miscellaneous 27,200 Total $ 1,108,500 Required a.&b. Prepare journal entries in the General Fund general journal to record the issuance of purchase orders and to record the receipt of and payment for goods during the year. Also show subsidiary detail for the Encumbrances and Expenditures ledgers. (If no
Service Department Charges In divisional income statements prepared for Demopolis Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $77,376, and the Purchasing Department had expenses of $39,530 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records: Residential Commercial GovernmentContract Sales $ 826,000 $ 1,095,000 $ 2,514,000 Number of employees: Weekly payroll (52 weeks per year) 220 60 65 Monthly payroll 36 47 34 Number of purchase requisitions per year 2,800 2,000 1,900 a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division. Residential…