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Use the information below to prepare (a) departmental income statements and (b) the departmental contributin overhead. Salaries are direct expenses, and all other expenses are indirect expenses. Sales Cost of goods sold Gross profit Expenses Salaries Rent Utilities Share of office expenses Share of purchasing expenses Food $ 121,600 72,400 49,200 14,500 3,300 2,200 4,650 4,150 Beverage $ 81,500 44,400 37,200 8,250 1,700 1,100 5,500 6,050

Use the information below to prepare (a) departmental income statements and (b) the departmental contributin overhead. Salaries are direct expenses, and all other expenses are indirect expenses. Sales Cost of goods sold Gross profit Expenses Salaries Rent Utilities Share of office expenses Share of purchasing expenses Food $ 121,600 72,400 49,200 14,500 3,300 2,200 4,650 4,150 Beverage $ 81,500 44,400 37,200 8,250 1,700 1,100 5,500 6,050

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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Use the information below to prepare (a) departmental income statements and (b) the departmental contribution to overhead. Salaries are direct expenses, and all other expenses are indirect expenses. Sales Cost of goods sold Gross profit Expenses Salaries Rent Utilities Share of office expenses Share of purchasing expenses Required At Required B Complete this question by entering your answers in the tabs below. Gross profit Expenses Complete this question by entering your answers in the tabs below. Prepare departmental income statements. Total expenses Income Food $ 121,600 72,400 49,200 14,500 3,300 2,200 4,650 4,150 Gross profit Direct expenses Required B Departmental Income Statements Food Total direct expenses Departmental contribution to overhead Beverage $ 81,600 44,400 37,200 8,250 1,700 1,100 5,500 6,050 < Required A Prepare the departmental contribution to overhead. Departmental Contribution to Overhead Food Beverage Required A < Required A Required B> Beverage Required >
Transcribed Image Text:Use the information below to prepare (a) departmental income statements and (b) the departmental contribution to overhead. Salaries are direct expenses, and all other expenses are indirect expenses. Sales Cost of goods sold Gross profit Expenses Salaries Rent Utilities Share of office expenses Share of purchasing expenses Required At Required B Complete this question by entering your answers in the tabs below. Gross profit Expenses Complete this question by entering your answers in the tabs below. Prepare departmental income statements. Total expenses Income Food $ 121,600 72,400 49,200 14,500 3,300 2,200 4,650 4,150 Gross profit Direct expenses Required B Departmental Income Statements Food Total direct expenses Departmental contribution to overhead Beverage $ 81,600 44,400 37,200 8,250 1,700 1,100 5,500 6,050 < Required A Prepare the departmental contribution to overhead. Departmental Contribution to Overhead Food Beverage Required A < Required A Required B> Beverage Required >
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