Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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 | Outlying | |||||||
| Service revenue | $ | 990,000 | $ | 790,000 | $ | 390,000 | |||
| Variable expenses | 158,000 | 108,000 | 58,000 | ||||||
| Controllable fixed expenses | 362,000 | 282,000 | 112,000 | ||||||
| Fixed expenses controllable by others | 188,000 | 158,000 | 48,000 | ||||||
In addition to the expenses listed above, the company has $65,000 of common fixed expenses. Income-tax expense for the year is $265,000.
Required:
-
Prepare a segmented income statement for Countywide Cable Services, Inc.
| SEGMENTED INCOME STATEMENTS: COUNTYWIDE CABLE SERVICES, INC. | ||||
| Segments of Company | ||||
| Countywide Cable Services | Metro | Suburban | Outlying | |
| Segment contribution margin | $0 | $0 | $0 | $0 |
| Profit margin controllable by segment manager | $0 | $0 | $0 | $0 |
| Profit margin traceable to segment | $0 | $0 | $0 | $0 |
| $0 | ||||
| $0 | ||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started