FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The Medford Burkett Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using a system of responsibility reports and return on investment calculations. The allocation of resources within the company and the segment managers' bonuses are based in part on the results shown in these reports. Recently, the company was the victim of a computer virus that deleted portions of the company's accounting records. This was discovered when the current period's responsibility reports were being prepared. The printout of the actual operating results appeared as follows. 3 # E D Determine the missing pieces of information. Format all dollar amounts with $, commas, and zero decimal places. Format percentages with % and zero decimal places. F3 + C Service revenue Variable costs Contribution margin Controllable fixed costs. Controllable margin Average operating assets Return on Investment F4 4 O R F $ V F5 E 5 % T G F6 B H 6 A F7 ça Y $ H Planes O Search 7 N F8 & 5,000,000 25,000,000 U 1,500,000 J L 12% 8 F9 Ba * M - LG F10 Taxis 9 ( K O F11 $450,000 180,000 THE 70,000 < L 10% A- 0 ) F12 + P > $ Limos Prt Sc ScrLk 320,000 380,000 176,000 1,600,000 Ins = + 1? Del Backspa
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Transcribed Image Text:The Medford Burkett Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using a system of responsibility reports and return on investment calculations. The allocation of resources within the company and the segment managers' bonuses are based in part on the results shown in these reports. Recently, the company was the victim of a computer virus that deleted portions of the company's accounting records. This was discovered when the current period's responsibility reports were being prepared. The printout of the actual operating results appeared as follows. 3 # E D Determine the missing pieces of information. Format all dollar amounts with $, commas, and zero decimal places. Format percentages with % and zero decimal places. F3 + C Service revenue Variable costs Contribution margin Controllable fixed costs. Controllable margin Average operating assets Return on Investment F4 4 O R F $ V F5 E 5 % T G F6 B H 6 A F7 ça Y $ H Planes O Search 7 N F8 & 5,000,000 25,000,000 U 1,500,000 J L 12% 8 F9 Ba * M - LG F10 Taxis 9 ( K O F11 $450,000 180,000 THE 70,000 < L 10% A- 0 ) F12 + P > $ Limos Prt Sc ScrLk 320,000 380,000 176,000 1,600,000 Ins = + 1? Del Backspa
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