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(Answered) University Hospital provided the following income statement for


University Hospital provided the following income statement for
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University Hospital provided the following income statement for two of its divisions: Diagnostic and Outpatient. Both divisions are structured as investment centers.,

 

Segment Margin Income Statement for University Hospital,

 

,

 

Diagnostic Outpatient Total,

 

Revenue $500,000 $400,000 $900,000,

 

Variable expenses ,

 

Product 220,000 140,000 360,000,

 

Selling and administrative 150,000 80,000 230,000,

 

Contribution margin 130,000 180,000 310,000,

 

Less traceable fixed costs 82,000 93,000 175,000,

 

Segment margin $ 48,000 $ 87,000 135,000,

 

Common fixed costs 130,000,

 

Net operating income $ 5,000,

 

The average assets for Diagnostic and Outpatient divisions total $400,000 and $600,000, respectively. The required minimum rate of return for both divisions is 10%.,

 

Required:,

 

Calculate the current residual income for the Diagnostic division. ,

 

Calculate the current residual income for the Outpatient division. ,

 


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