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 Rent Utilities Share of office department expenses. Total expenses Incure $ 180,000 88,200 91,800 22,500 600 1,500 7.110 2.600 12.500 140 818 $ 44,990 Earbuds $ 85,000 52.700 32,300 8.000 650 800 3,840 2:100 3.500 19.490 $ 12.810 Combined $ 205,000 140,900 124,100 31,100 1,250 2,500 10,950 4,700 16,000 G6, 300 $ 57,000 2

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 Rent Utilities Share of office department expenses. Total expenses Incure $ 180,000 88,200 91,800 22,500 600 1,500 7.110 2.600 12.500 140 818 $ 44,990 Earbuds $ 85,000 52.700 32,300 8.000 650 800 3,840 2:100 3.500 19.490 $ 12.810 Combined $ 205,000 140,900 124,100 31,100 1,250 2,500 10,950 4,700 16,000 G6, 300 $ 57,000 2

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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