O Cases \\ f 2017F_BA303: Activity rex Emir Craig - O X * - e 0 ezto.mheducation
ID: 2807530 • Letter: O
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O Cases f 2017F_BA303: Activity rex Emir Craig - O X * - e 0 ezto.mheducation.com/hm.tpx # Uygulamalar p Onedio M McGrawo YouTube O Best Of 6 SÜPER LG | Digiturk 3 Yemeksepeti M TEDU Moodle o Outlook & Film Mushroom - ECT-MMR A ECT- » D Dier yer iaretleri 5. 10.00 points Music Teachers, Inc., is an educational association for music teachers that has 19,800 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 association's 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 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 $3,350,000 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 Total expenses Excess of revenues over expenses 958,000 239.500 280,000 570,000 570,000 354,000 194,000 78,000 33,000 3,276,500 S 74,100 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 association's 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 538 per E P 0 || CO SK L : 0 C N O 10o A a = a (0) W TUR 25.12.2017 | 2222Explanation / Answer
workings for occupancy costs:
Association Total Membership Magazine Subscription Books &Reports Continuing education Sales Member ship dues 1,980,000 1,584,000 396,000 Teacher forum subscriptions 140,600 140,600 Magazine advertisement revenue 110,000 110,000 Technical report and texts sale 710,000 710,000 One day courses 410,000 410,000 Total revenues 3,350,600 1,584,000 646,600 710,000 410,000 Expenses traceble to segments Printing and paper 354,000 29,600 113,600 210,800 Reimbursement of member costs 570,000 570,000 Other membership services 570,000 570,000 Postage and shipping 71,600 14,800 56,800 Instructor fee 78,000 78,000 Salaries 871,000 214,000 158,000 312,000 187,000 Personnel costs 217,750 53,500 39,500 78,000 46,750 Occupancy costs 211,000 69,000 23,000 73,000 46,000 Total traceble expenses 2,943,350 1,476,500 264,900 633,400 568,550 Contribution 407,250 107,500 381,700 76,600 (158,550) Common expenses not traceble to divisions Corporate staff salaries 87,000 Corporate staff personnel costs 21,750 occupancy costs 69,000 General and administrative 33,000 Corporate postage and shipping 122,400 Total common expenses 333,150 Net profit 74,100Related Questions
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