Music Teachlers, iIC., is an educational assoclation tor musicteachers that nas

Question

Music Teachlers, iIC., is an educational assoclation tor musicteachers that nas SPOO members. The aSsoclation operates troma 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 association's magazine, 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 association's 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 $3,296,400 Expenses: Salaries Personnel costs Occupancy costs Reimbursement of member costs to local chapters Other membership servi Printing and paper Postage and shipping Instructors fees 967,000 241,750 287,000 500,000 530,000 352,000 239,000 77,000 31,000 3,224,750 $71,650 ces eneral and administrative Total expenses Excess of revenues over expenses

Explanation / Answer

Music Teachers Inc. Segmented Income Statement Division Details Association Membership Magazine Books & Continuing Total subscriptions Reports Education Sales:    Membership dues 1970000 1576000 394000    Non - member journal subscriptions 88400 88400    Reports and texts 702500 702500    Continuing education 427500 427500    Advertising 108000 108000 Total Revenues 3296400 1576000 590400 702500 427500 Expenses traceable to segments:     Salaries 884000 220000 153000 312000 199000     Personnel costs (25% of salaries) 221000 55000 38250 78000 49750     Occupancy costs 216800 70200 23400 76400 46800     Printing paper 352000 178400 112400 61200     Postage and shipping 145400 89200 56200     Instructors fee 77000 77000     Other membershipservices 530000 530000 Total traceable expenses 2426200 875200 482250 635000 433750 Segementwise excess of revenues over expenses 870200 700800 108150 67500 -6250 Common expenses not traceable to dividions      Salaries 83000     Personnel costs (25% of salaries) 20750     Occupancy costs 70200     Reimbursement of member costs 500000     Postage and shipping 93600     General andadministrative expenses 31000 Total common expenses 798550 Total excess of revenues over expenses 71650 Workings: Occupancy costs Total Membership Magazine Books & Continuing Corporate subscriptions Reports Education Staff Space occupied 10000 3000 1000 1000 2000 3000 Occupancy Costs 287000 Rent of warehouse for books and reports div. 53000 53000 To be allocated based on the space occupied 234000 70200 23400 23400 46800 70200 total occupancy costs 70200 23400 76400 46800 70200 Printing and paper costs 352000 Teacher's frum subscription 22300 Cost of printing per magazine 8 Total costs of printing for teachers' forum 178400 Techincal reports and texts 28100 Cost of printing per reort 4 Total cost of printing for reports and texts 112400 Printing and papr for continuing education 61200 Postage and shipping 239000 Teacher's frum subscription 22300 Cost of postage and shipping per magazine 4 Total costs of postage and shipping for teachers' forum 89200 Techincal reports and texts 28100 Cost of postage and shippingper reort 2 Total cost of postage and shipping for reports and texts 56200 Balance postage and shipping to corporate expenses 93600

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.