Segmented Income Statement Assignment | Top Universities

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: Home Meals On House- Total Nursing Wheels keeping $ 921,000 $ 269,000 $ 400,000 $ 252,000 457,000 114,000 193,000 150,000 Revenues Variable expenses Contribution margin 464,000 155,000 207,000 102,000 Fixed expenses Depreciation Liability insurance Program administrators' salaries General administrative overhead* 68,900 43,800 115,700 184,200 8,400 20,900 41,000 53,800 40,400 7,700 38,700 80,000 20,100 15,200 36,000 50,400 Total fixed expenses 412,600 124,100 166,800 121,700 Net operating income (loss) $ 51,400 $ 30,900 $ 40,200 $ (19,700) *Allocated on the basis of program revenues.

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The head administrator of Jackson County Senior Services, Judith Miyama, is concerned about the organization's finances and considers the net operating income of $51,400 last year to be razor-thin. (Last year's results were very similar to the results for previous years and are representative of what would be expected in the future.) She feels that the organization should be building its financial reserves at a more rapid rate in order to prepare for the next inevitable recession. After seeing the above report, Ms. Miyama asked for more information about the financial advisability of perhaps 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. What is the impact on net operating income by discontinuing the housekeeping program? Total If Difference: Net Operating Current Total Housekeeping Income Increase Is Dropped or (Decrease) Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead Total fixed expenses 000 0 S 0S 0 Net operating income (loss) S Should the housekeeping program be discontinued? Yes No, Prepare a segmented income statement. Home Nursing Meals On Wheels Housekeeping Totals 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) 0 0 0 0 s $ Get Accounting homework help today

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