Divisional Income StatementsThe following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8:Cost of goods sold: Support department allocations: Commercial Division$3,400,000 Commercial Division$800,000 Residential Division1,800,000 Residential Division200,000Administrative expenses: Sales: Commercial Division$750,000 Commercial Division$6,120,000 Residential Division375,000 Residential Division2,850,000 Prepare divisional income statements for Ruiz Industries Inc.Ruiz Industries Inc.Divisional Income StatementsFor the Year Ended November 30, 20Y8 Commercial DivisionResidential Division $- Select -$- Select - - Select -- Select - $- Select -$- Select - - Select -- Select - $- Select -$- Select - - Select -- Select - $- Select -$- Select -

Preparation of the divisional income statements for Ruiz Industries Inc. :Ruiz Industries Inc. Divisional Income Statements For the Year Ended November 30, 20Y8 Commercial Division Residential Division Sales $ 6,120,000 $ 2,850,000 Cost of Goods Sold 3,400,000 1,800,000 Gross Profit $ 2,720,000 $ 1,050,000 Administrative Expenses 750,000 375,000 Division Operating Income Before support department allocation $ 1,970,000 $ 675,000 Support department allocations 800,000 200,000 Operating Income $ 1,170,000 $ 475,000

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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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Divisional Income Statements

The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8:

Cost of goods sold:			Support department allocations:
	Commercial Division	$3,400,000		Commercial Division	$800,000
	Residential Division	1,800,000		Residential Division	200,000
Administrative expenses:			Sales:
	Commercial Division	$750,000		Commercial Division	$6,120,000
	Residential Division	375,000		Residential Division	2,850,000

Prepare divisional income statements for Ruiz Industries Inc.

Ruiz Industries Inc.Divisional Income StatementsFor the Year Ended November 30, 20Y8

	Commercial Division	Residential Division
	$- Select -	$- Select -
	- Select -	- Select -
	$- Select -	$- Select -
	- Select -	- Select -
	$- Select -	$- Select -
	- Select -	- Select -
	$- Select -	$- Select -

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