Space Occupied Membership Magazine Subscriptions Books and Reports Continuing Education Corporate staff Total Salaries $225,000 (square...
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Space Occupied Membership Magazine Subscriptions Books and Reports Continuing Education Corporate staff Total Salaries $225,000 (square feet) 3,000 152,000 1,000 310,000 1,000 186,000 2,000 87,000 3,000 $ 960,000 10,000 Personnel costs are 25% of salaries in the separate divisions as well as for the corporate staff. The $222,000 in occupancy costs (which can be allocated to segments based on their square feet occupied) includes $50,000 in rental cost for a warehouse used by the Books and Reports Division for storage purposes. Assume that this cost could be avoided if the division were eliminated. g. Printing and paper costs other than for magazine subscriptions and for books and reports relate to the Continuing Education Division. h. General and administrative expenses include costs relating to overall administration of the association as a whole. The company's 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 segmented income statement for Music Teachers, Incorporated. This statement should show the segment margin for each division as well as results for the association as a whole. Space Occupied Membership Magazine Subscriptions Books and Reports Continuing Education Corporate staff Total Salaries $225,000 (square feet) 3,000 152,000 1,000 310,000 1,000 186,000 2,000 87,000 3,000 $ 960,000 10,000 Personnel costs are 25% of salaries in the separate divisions as well as for the corporate staff. The $222,000 in occupancy costs (which can be allocated to segments based on their square feet occupied) includes $50,000 in rental cost for a warehouse used by the Books and Reports Division for storage purposes. Assume that this cost could be avoided if the division were eliminated. g. Printing and paper costs other than for magazine subscriptions and for books and reports relate to the Continuing Education Division. h. General and administrative expenses include costs relating to overall administration of the association as a whole. The company's 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 segmented income statement for Music Teachers, Incorporated. This statement should show the segment margin for each division as well as results for the association as a whole.
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