Problem

The following information has been accumulated for use in preparing segment disclosures fo...

The following information has been accumulated for use in preparing segment disclosures for Wod Corporation (in thousands):

 

Sales to Unaffiliated Customers

Sales to Affiliated Customers

Total Sales

Apparel

$164

$164

Construction

112

112

Furniture

208

$6

214

Lumber and wood products

175

90

265

Paper

90

90

Textiles

50

170

220

Tobacco

93

93

Total

$892

$266

$1,158

REQUIRED

1. Determine Wod’s reportable segments under the 10 percent revenue test.


2. Are additional reportable segments required under the 75 percent revenue test?


3. Prepare a schedule to disclose revenue by operating segment for external reporting. Assume that the paper and tobacco segments, both sold in grocery stores, share similar operating characteristics on four of the five aggregation criteria.

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Solutions For Problems in Chapter 15