Using the data below for the Ace Guitar Company:   A Region     B Region     Sales $560,000     $840,000     Cost of goods sold 212,800     319,200     Selling expenses 134,400     201,600                   Support department expenses:                    Purchasing           $235,200        Payroll accounting           156,800   Allocate support department expenses proportional to the sales of each region. Determine the divisional operating income for the A and B regions. For interim calculations, round percentages to two decimal places and all other amounts to the nearest whole dollar. A Region Operating Income $fill in the blank 1 B Region Operating Income

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Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.