Music Teachers, Inc., is an educational association for music teachers that has 20,200 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., is an educational association for music teachers that has 20,200 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 nterest to music teachers. The 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 association's statement of revenues and expenses association's journal, Teachers Forum, is issued monthly with features for the current year is presented below. Music Teachers, Inc Statement of Revenues and Expenses For the Year Ended November 30 53.424,000 Expenses Salaries Personnel costs Occupancy costs Reimbursement of member costs to local chapters Other membership services Printing and paper Postage and shipping Instructors' fees General and administrative 969,000 242,250 283,000 510,000 580,000 342,000 185,000 79,000 31,000 Total expenses 3.221,250 Excess of revenues over expenses 5 202,750 The board of directors of Music Teachers, Inc., has requested that a s egm ented income statement be pared 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 S100 per year, of which $20 is considered to cover a one-year subscription to the association's journal. Other benefits include membership in the association and chapter affiliation. The portion of the dues covering the magazine subscription (S20) should be assigned to the Magazine Subscription Division b. One-year subscriptions to Teachers' Forum were sold to nonmembers and libraries at $38 per subscription. A total of 4,000 of these subscriptions were sold last year. In addition to subscriptions, the magazine generated $112,000 in advertising revenues. The costs per magazine subscription were $9 for printing and paper and $4 for postage and shipping c. A total of 28,400 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 52 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 575 each and were attended by 2,600 students. A total of 1,880 students took two-day courses at a tuition cost of $125 for each student. Outside instructors were paid to each some courses. e. Salary costs and space occupied by division follow