Question: Please need help with accounting homework Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their
Please need help with accounting homework




Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Total $ 924,000 470,000 454,000 Home Nursing $ 263,000 119,000 144,000 Meals On Wheels $ 407,000 192,000 215,000 House keeping $ 254,000 159,000 95,000 Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead Total fixed expenses Net operating income (loss) 69,700 43,600 114,700 184,800 412,800 $ 41,200 8,500 20, 200 40,000 52,600 121,300 $ 22,700 40,500 7,800 38,900 81,400 168, 600 $ 46,400 20,700 15,600 35,800 50,800 122,900 $ (27,900) *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last year's net operating income of $41,200 to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program. The depreciation in housekeeping is for a small van that is used to carry the housekeepers and their equipment from job to job. If the program were discontinued, the van would be donated to a charitable organization. None of the general administrative overhead would be avoided if the housekeeping program were dropped, but the liability insurance and the salary of the program administrator would be avoided. Required: 1-a. What is the financial advantage (disadvantage) of discontinuing the Housekeeping program? 1-b. Based on the financial advantage (disadvantage) of discontinuing the Housekeeping program calculated in requirement Req 1A, should the Housekeeping program be discontinued? 2-a. Prepare a properly formatted segmented income statement. 2-b. Would a segmented income statement format be more useful to management in assessing the long-run financial viability of the various services? Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Reg 2B What is the financial advantage (disadvantage) of discontinuing the Housekeeping program? Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2A Reg 2 Based on the financial advantage (disadvantage) of discontinuing the Housekeeping program calculated in requirement Req 1A, should the Housekeeping program be discontinued? OYes ONO Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2A Req 2B Prepare a properly formatted segmented income statement. Total Home Nursing Meals On Wheels House- keeping Revenues Variable expenses Contribution margin Traceable fixed expenses: Depreciation Liability insurance Program administrators' salaries Total traceable fixed expenses Program segment margins General administrative overhead Net operating income (loss) Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2A Reg 2B Would a segmented income statement format be more useful to management in assessing the long-run financial viability of the various services? OYes No
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