Exercise 12-32 Segmented Income Statement; TV Cable Company (LO 12-5) 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 $970,000 154,000 Metro Suburban Outlying $770,000 $370,000 104,000 54,000 276,000 106,000 44,000 356,000 184,000 154,000 In addition to the expenses listed above, the company has $55,000 of common fixed expenses. Income-tax expense for the year is $255,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

please dont provide answer in an image format thank you

Exercise 12-32 Segmented Income Statement; TV Cable Company (LO 12-5)
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
Segment contribution margin
Metro Suburban
$970,000 $770,000
154,000 104,000
356,000 276,000
184,000 154,000
In addition to the expenses listed above, the company has $55,000 of common fixed expenses. Income-tax expense for the year is
$255,000.
Outlying
$370,000
Required:
1. Prepare a segmented Income statement for Countywide Cable Services, Inc.
Profit margin controllable by segment manager
54,000
106,000
44,000
Profit margin traceable to segment
SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC.
Countywide
Cable Services
Metro
Segments of Company
Suburban Outlying
Transcribed Image Text:Exercise 12-32 Segmented Income Statement; TV Cable Company (LO 12-5) 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 Segment contribution margin Metro Suburban $970,000 $770,000 154,000 104,000 356,000 276,000 184,000 154,000 In addition to the expenses listed above, the company has $55,000 of common fixed expenses. Income-tax expense for the year is $255,000. Outlying $370,000 Required: 1. Prepare a segmented Income statement for Countywide Cable Services, Inc. Profit margin controllable by segment manager 54,000 106,000 44,000 Profit margin traceable to segment SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Countywide Cable Services Metro Segments of Company Suburban Outlying
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Segment Reporting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education