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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 GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 160,000 78,400 81,600 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 1,200 2,400 7,080 2,300 13,000 46,980 $ 34,620 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Total direct expenses Departmental contribution to overhead $ 0 Earbuds $ 115,000 71,300 43,700 0 0 $ Earbuds Combined 0 6,800 650 300 3,600 1,900 6,500 19,750 $ 23,950 0 0 $ Combined $ 275,000 149,700 125, 300 27,800 1,850 2,700 10,680 4,200 19,500 66,730 $ 58,570

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 $ 160,000 78,400 81,600 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 1,200 2,400 7,080 2,300 13,000 46,980 $ 34,620 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Total direct expenses Departmental contribution to overhead $ 0 Earbuds $ 115,000 71,300 43,700 0 0 $ Earbuds Combined 0 6,800 650 300 3,600 1,900 6,500 19,750 $ 23,950 0 0 $ Combined $ 275,000 149,700 125, 300 27,800 1,850 2,700 10,680 4,200 19,500 66,730 $ 58,570

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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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 $ 160,000 78,400 81,600 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 1,200 2,400 7,080 2,300 13,000 46,980 $ 34,620 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Total direct expenses Departmental contribution to overhead $ 0 Earbuds $ 115,000 71,300 43,700 0 0 $ Earbuds Combined 0 6,800 650 300 3,600 1,900 6,500 19,750 $ 23,950 0 0 $ Combined $ 275,000 149,700 125,300 27,800 1,850 2,700 10,680 4,200 19,500 66,730 $ 58,570
Transcribed Image Text: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 $ 160,000 78,400 81,600 Rent Utilities Share of office department expenses Total expenses Income Direct expenses Required: Prepare a departmental contribution to overhead report. 21,000 1,200 2,400 7,080 2,300 13,000 46,980 $ 34,620 Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Phone Total direct expenses Departmental contribution to overhead $ 0 Earbuds $ 115,000 71,300 43,700 0 0 $ Earbuds Combined 0 6,800 650 300 3,600 1,900 6,500 19,750 $ 23,950 0 0 $ Combined $ 275,000 149,700 125,300 27,800 1,850 2,700 10,680 4,200 19,500 66,730 $ 58,570
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