FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Homework help. Chapter 21 number 6. Need help filling in the missing data. Thank You!
Transcribed Image Text:a. Prepare a variable costing income statement for The Walt Disney Company by segment. If required, use a minus sign to indicate an operating loss. Round all amounts to the nearest million.
The Walt Disney Company
Variable Costing Income Statement
(in millions)
Line Item Description
Sales
Variable operating expenses
Contribution margin
Fixed operating expenses
Operating income/loss
✓
Media
Networks
$
Parks, Experiences, Studio
and Products
Entertainment
$
Direct-to-Consumer &
International
Transcribed Image Text:Segment Contribution Margin Analysis
The Walt Disney Company (DIS) is a global entertainment company that is organized into four business segments as follows:
Media Networks:
Television production and distribution, including ABC television network, ESPN, National Geographic.
Parks, Experiences, and Products:
Theme parks and resorts, including Walt Disney World and Disneyland; Experiences, including Disney Cruise Line and Disney Vacation Club; Products, including Disney and Pixar characters, comic books, and magazines.
Studio Entertainment:
Music and motion picture production and distribution, including Twentieth Century Studios, Marvel, and Lucasfilm.
Direct-to-Consumer & International:
Streaming services, including Disney+, ESPN+, and Hulu.
For a recent year, Disney reported the following segment results (in millions):
Segment
Parks,
Experiences,
and Products
Segment
Media Networks
Parks, Experiences, and
Products
Studio Entertainment
Segment
Entertainment & International
Revenues
$28,393
$16,502
$9,636
Operating expenses
(19,400)
(16,600)
(7,200)
Operating income
$8,993
$(98)
$2,436
Assume the following percentages of total operating expenses for each segment are variable:
Direct-to-Consumer &
Segment
Media
Networks
International
Percentage of
Variable
Operating Expenses
75%
60%
80%
Direct-to-
Consumer
70%
$16,967
(19,800)
$(2,833)
a. Prepare a variable costing income statement for The Walt Disney Company by segment. If required, use a minus sign to indicate an operating loss. Round all amounts to the nearest million.
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