answer in text form please (without image) Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirectexpenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss.Departmental Income StatementsFor Year Ended December 31Acoustic$ 101,700SalesCost of goods sold45,575Gross profit56,125ExpensesAdvertisingDepreciation-EquipmentSalariesSupplies usedRentUtilitiesTotal expensesIncome (loss)Required 1 Required 21. Prepare a departmental contribution to overhead report.2. Based on contribution to overhead, should the electric guitar department be eliminated?5,01510,06019,8002,0007,0452,97546,895$ 9,230Complete this question by entering your answers in the tabs below.For Year Ended December 31Gross profitDirect expensesPrepare a departmental contribution to overhead report.Departmental Contribution to OverheadTotal direct expensesDepartmental contribution to overheadElectric$ 84,40046,75037,6504,2808,56017,5001,7606,0302,63040,760$ (3,110)Acoustic< Required 1ElectricCombinedRequired 2 >

Name: answer in text form please (without image) Below are departmental inco
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Description: answer in text form please (without image) Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirectexpenses. The manufacturer is considering eliminating its Electric Guita

Departmental contribution to overhead :Departmental contribution to overhead is the amount of money…

Business

Accounting

Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirec expenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss. For Year Ended December 31 Departmental Income Statements Sales. Cost of goods sold Gross profit Expenses Advertising Depreciation-Equipment Salaries Supplies used Rent Utilities Total expenses Income (loss) Acoustic $ 101,700 45,575 56,125 5,015 10,060 19,800 2,000 7,045 2,975 46,895 $9,230 Electric $ 84,400 46,750 37,650 4,280 8,560 17,500 1,760 6,030 2,630 40,760 $ (3,110) 1. Prepare a departmental contribution to overhead report. 2. Based on contribution to overhead, should the electric guitar department be eliminated?

Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirec expenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss. For Year Ended December 31 Departmental Income Statements Sales. Cost of goods sold Gross profit Expenses Advertising Depreciation-Equipment Salaries Supplies used Rent Utilities Total expenses Income (loss) Acoustic $ 101,700 45,575 56,125 5,015 10,060 19,800 2,000 7,045 2,975 46,895 $9,230 Electric $ 84,400 46,750 37,650 4,280 8,560 17,500 1,760 6,030 2,630 40,760 $ (3,110) 1. Prepare a departmental contribution to overhead report. 2. Based on contribution to overhead, should the electric guitar department be eliminated?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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