A9 Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in theirown homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, andhousekeeping. Data on revenue and expenses for the past year follow:RevenuesVariable expensesContribution margin.Fixed expenses:DepreciationLiability insuranceProgram administrators' salariesGeneral administrative overhead*Total fixed expensesNet operating income (loss)Req 1AComplete this question by entering your answers in the tabs below.RevenuesRequired:1-a. What is the financial advantage (disadvantage) of discontinuing the Housekeeping program?Req 1B"Allocated on the basis of program revenues.The head administrator of Jackson County Senior Services, Judith Miyama, considers last year's net operating income of $41,900to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program.Prepare a properly formatted segmented income statement.Req 1ATotal$919,000464,000455,000The depreciation in housekeeping is for a small van that is used to carry the housekeepers and their equipment from job to job. Ifthe program were discontinued, the van would be donated to a charitable organization. None of the general administrativeReq 2AReq 2B69,30044,500115,500183,800413,100$ 41,9001-b. Based on the financial advantage (disadvantage) of discontinuing the Housekeeping program calculated in requirement Req1A, should the Housekeeping program be discontinued?2-a. Prepare a properly formatted segmented income statement.2-b. Would a segmented income statement format be more useful to management in assessing the long-run financial viability ofthe various services?RevenuesVariable expensesTotalHome NursingMeals OnHome Nursing Wheels$ 262,000 $ 405,000119,000 194,000143,000211,0008,60021,00040,00052,400Req 2BTotal122,000$ 21,000Prepare a properly formatted segmented income statement.Meals OnWheels40,5007,70039,00081,000168, 200$ 42,800What is the financial advantage (disadvantage) of discontinuing the Housekeeping program?Would a segmented income statement format be more useful to management in assessing the long-run financialviability of the various services?Req 1BReq 2AHouse-keeping$ 252,000151,000101,000House-keeping20, 20015,80036,50050,400Home Nursing122,900$ (21,900)Meals OnWheelsHouse-keeping

Segement margin shows the profit (loss) of each component indiviually of the business by comparing…

ntribution margin xed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead tal fixed expenses t operating income (loss) 455,000 69,300 44,500 115,500 183,800 413,100 $ 41,900 143,000 8,600 21,000 40,000 52,400 122,000 $ 21,000 211,000 40,500 7,700 39,000 81,000 168,200 $ 42,800 101,000 20,200 15,800 36,500 50,400 122,900 $ (21,900)

ntribution margin xed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead tal fixed expenses t operating income (loss) 455,000 69,300 44,500 115,500 183,800 413,100 $ 41,900 143,000 8,600 21,000 40,000 52,400 122,000 $ 21,000 211,000 40,500 7,700 39,000 81,000 168,200 $ 42,800 101,000 20,200 15,800 36,500 50,400 122,900 $ (21,900)

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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