xercise 12-33 Segmented Income Statement; TV Cable Company (LO 12-5) Countywide Cable Services, Inc. is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. Metro Suburban Outlying Service revenue $ 1,080,000 $ 880,000 $ 480,000 Variable expenses 176,000 126,000 76,000 Controllable fixed expenses 389,000 309,000 139,000 Fixed expenses controllable by others 206,000 176,000 66,000 In addition to the expenses listed above, the company has $110,000 of common fixed expenses. Income-tax expense for the year is $310,000. Required: Prepare a segmented income statement for Countywide Cable Services, Inc

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

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Carlton industries is considering a new project that they plan to price at $74.00 per unit. the variable costs are estimated at $39.22 per unit and total fixed costs are estimated at $12,085. the initial investment required is $8,000 and the project has an estimated life of 4 years. the firm requires a return of 8 percent. ignore the effect of taxes. what is the degree of operating leverage at the financial break-even level of output?