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Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office) Its departmental income. statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment Rent Utilities Share of office department expenses Total expenses Income GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone Direct expenses $ 200,000 98,000 102,000 Required: Prepare a departmental contribution to overhead report. 22,500 650 2,500 7,100 3,000 12,000 47,250 $54,250 Total direct expenses Departmental contribution to overhead Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone farbuds $ 95,000 50,900 36,100 8,000 450 400 3,700 1,900 3.500 18,038 $ 18,070 Earbuds Combined Combined $295.000 156,900 138,100 30,500 1,100 2,960 10,800 4,900 15.500 SPEE $ 22.320

Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office) Its departmental income. statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment Rent Utilities Share of office department expenses Total expenses Income GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone Direct expenses $ 200,000 98,000 102,000 Required: Prepare a departmental contribution to overhead report. 22,500 650 2,500 7,100 3,000 12,000 47,250 $54,250 Total direct expenses Departmental contribution to overhead Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone farbuds $ 95,000 50,900 36,100 8,000 450 400 3,700 1,900 3.500 18,038 $ 18,070 Earbuds Combined Combined $295.000 156,900 138,100 30,500 1,100 2,960 10,800 4,900 15.500 SPEE $ 22.320

FINANCIAL ACCOUNTING
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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B Book Print 0 erences Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 200,000 98,000 102,000 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 22,500 650 2,500 7,100 3,000 12,000 47,750 $54,250 Total direct expenses Departmental contribution to overhead Garcia Company Departmental Contribution to Overhead. For Year Ended December 31 Phone Earbuds $ 95,000 58,900 36,100 8,000 450 400 3,780 1,900 3,500 18,038 $ 18,070 Earbuds Combined Combined $ 295,000 156.900 138,100 30,500 1,100 2,900 10,880 4,900 15.500 C35-70X 3 22.320
Transcribed Image Text:B Book Print 0 erences Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 200,000 98,000 102,000 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 22,500 650 2,500 7,100 3,000 12,000 47,750 $54,250 Total direct expenses Departmental contribution to overhead Garcia Company Departmental Contribution to Overhead. For Year Ended December 31 Phone Earbuds $ 95,000 58,900 36,100 8,000 450 400 3,780 1,900 3,500 18,038 $ 18,070 Earbuds Combined Combined $ 295,000 156.900 138,100 30,500 1,100 2,900 10,880 4,900 15.500 C35-70X 3 22.320
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