Turk Telekom 16:25 ezto.mheducation.com Music Teachers, Inc., is an educational

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Turk Telekom 16:25 ezto.mheducation.com Music Teachers, Inc., is an educational association for music teachers that has 20,000 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 $3,367400 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 952,000 238,000 297,000 550,000 580,000 352,000 209,000 71,000 6,000 Total expenses 3,285,000 Excess of revenues over expenses $ 82400 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. 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

Explanation / Answer

Divison Total Membership Magazine Books&Reports Continuing Education Revenue from sales 3259400 1600000 539400 710000 410000 Revenue from advertising 108000 108000 Revenue From Sales 3367400 Costs Salaries 871000 217000 153000 320000 181000 Personnel Costs 217750 54250 38250 80000 45250 Occupancy Costs 225300 71700 23900 81900 47800 Reimbursement of member cost to local chapters 550000 550000 Other Membership Services 580000 580000 Printing and Paper 352000 168700 113600 69700 Postage and Shipping 153200 96400 56800 Instructor Fees 71000 80000 Total Traceable Expenses 3020250 COMMON EXPENSES Salaries 81000 Personnel Costs 20250 Occupancy Costs 71700 Postage and Shipping 55800 General and Adminstrative 36000 Total Non Traceable Expenses 264750 Total Expenses 3285000 Profit 82400

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