Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for theyear just ended follow.MetroSuburbanService revenueVariable expensesControllable fixed expensesFixed expenses controllable by others$970,000154, 000356,000184,000$770,000104,000276,000154,000Outlying$370,00054,000106,00044,000In addition to the expenses listed above, the company has $55,000 of common fixed expenses. Income-tax expense for the year is$255,000.cesRequired:1. Prepare a segmented income statement for Countywide Cable Services, Inc.SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC.Segments of CompanyCountywideCable ServicesOutlyingMetroSuburbanSegment contribution margin< Prev2 of 7Next

Solution:- Preparation of Income statement as follows under:- Notes:- Contribution margin = Sales -…

Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc. SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Segments of Company Countywide Cable Services Outlying Metro Suburban Segment contribution margin

Required: 1. Prepare a segmented income statement for Countywide Cable Services, Inc. SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. Segments of Company Countywide Cable Services Outlying Metro Suburban Segment contribution margin

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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Question

Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the
year just ended follow.
Metro
Suburban
Service revenue
Variable expenses
Controllable fixed expenses
Fixed expenses controllable by others
$970,000
154, 000
356,000
184,000
$770,000
104,000
276,000
154,000
Outlying
$370,000
54,000
106,000
44,000
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.
ces
Required:
1. Prepare a segmented income statement for Countywide Cable Services, Inc.
SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC.
Segments of Company
Countywide
Cable Services
Outlying
Metro
Suburban
Segment contribution margin
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