Music Teachers, Inc., is an educational association for music teachers that has 20,000 members. The association operates from a central headquarters but has local membership chapters throughout the United States. Monthly meetings are held by the local chapters to discuss recent developments on topics of interest to music teachers. The associations journal, Teachers Forum, is issued monthly with features about recent developments in the field. The association publishes books and reports and also sponsors professional courses that qualify for continuing professional education credit. The associations statement of revenues and expenses for the current year is presented below.

Music Teachers, Inc. Statement of Revenues and Expenses For the Year Ended November 30
Revenues	$	3,371,700
Expenses:
Salaries		992,000
Personnel costs		248,000
Occupancy costs		292,000
Reimbursement of member costs to local chapters		550,000
Other membership services		550,000
Printing and paper		348,000
Postage and shipping		194,000
Instructors fees		72,000
General and administrative		36,000
Total expenses		3,282,000
Excess of revenues over expenses	$	89,700

The board of directors of Music Teachers, Inc., has requested that a segmented income statement be prepared showing the contribution of each segment to the association. The association has four segments: Membership Division, Magazine Subscriptions Division, Books and Reports Division, and Continuing Education Division. Mike Doyle has been assigned responsibility for preparing the segmented income statement, and he has gathered the following data prior to its preparation.

a.	Membership dues are $100 per year, of which $20 is considered to cover a one-year subscription to the associations journal. Other benefits include membership in the association and chapter affiliation. The portion of the dues covering the magazine subscription ($20) should be assigned to the Magazine Subscription Division.
b.	One-year subscriptions to Teachers Forum were sold to nonmembers and libraries at $36 per subscription. A total of 3,200 of these subscriptions were sold last year. In addition to subscriptions, the magazine generated $119,000 in advertising revenues. The costs per magazine subscription were $9 for printing and paper and $4 for postage and shipping.
c.	A total of 28,800 technical reports and professional texts were sold by the Books and Reports Division at an average unit selling price of $25. Average costs per publication were $4 for printing and paper and $2 for postage and shipping.
d.	The association offers a variety of continuing education courses to both members and nonmembers. The one-day courses had a tuition cost of $75 each and were attended by 2,600 students. A total of 1,780 students took two-day courses at a tuition cost of $125 for each student. Outside instructors were paid to teach some courses.
e.	Salary costs and space occupied by division follow:

	Salaries		Space Occupied (square feet)
Membership	$	224,000	3,000
Magazine Subscriptions		157,000	1,000
Books and Reports		322,000	1,000
Continuing Education		198,000	2,000
Corporate staff		91,000	3,000
Total	$	992,000	10,000

Personnel costs are 25% of salaries in the separate divisions as well as for the corporate staff. The $292,000 in occupancy costs includes $52,000 in rental cost for a warehouse used by the Books and Reports Division for storage purposes.

f.	Printing and paper costs other than for magazine subscriptions and for books and reports relate to the Continuing Education Division.
g.	General and administrative expenses include costs relating to overall administration of the association as a whole. The companys corporate staff does some mailing of materials for general administrative purposes.

The expenses that can be traced or assigned to the corporate staff, as well as any other expenses that are not traceable to the segments, will be treated as common costs. It is not necessary to distinguish between variable and fixed costs.

Required:

1.	Prepare a contribution format segmented income statement for Music Teachers, Inc. This statement should show the segment margin for each division as well as results for the association as a whole.

Please check the answer something are wrong

C Chegg Study | Guided Sc M Cases 1 Ocean Of Soul 2 (63858 (1) WhatsApp Division Association Magazine Books & Continuing Total Membership Subscriptions Reports Education Sales: $1,600,0001600,000 Membership dues Non-member journal subscriptions Advertising Reports and texts Continuing education courses 515,200 119,000 720,000 417,500 515,200 119,000 720,000 417,500 Total revenues 3,371,700 1,600,000 634,200 720,000 417,500 Expenses traceable to segments 901,000 225,250 220,000 550,000 550,000 348,000 150,400 72,000 224,000 6,000 72,000 550,000 550,000 157,000 39,250 24,000 322,000 80,500 76,000 198,000 49,500 48,000 Personnel costs Occupancy costs Reimbursement of member costs to local chapters Other membership services Printing and paper Postage and shipping Instructors fees 208,800 115,200 24,000 92,800 57,600 72,000 Total traceable expenses 3,016,650 1,452,000 521.850 651,300 391,500 ivision segment margin 355,050 148,000$112,350$ 68,700 $ 26,000 Common expenses not traceable to divisions Salaries-corporate staff Personnel costs Occupancy costs Postage and shipping General and administrative 91,000 22,750 72,000 43,600 36,000 Total common expenses 265,350 cess of revenues over expenses 89,700 WhatsApp Image...peg Tmn gsterX 20:45 TR, llol all 26.12.2017