1. Prepare a departmental contribution report that shows each department's contribution to overhead. WHOLESALE GUITARS Income Statement Showing Departmental Contribution to Overhead For Year Ended December 31, 2017 Acoustic Dept. Electric Dept. Combined Direct expenses Total direct expenses Departmental contributions to overhead Indirect expenses Total Indirect expenses Below are departmental income statements for a guitar manufacturer. The manufacturer is considering eliminating its electric guitar department since it has a net loss. The company classifies advertising, rent, and utilities expenses as indirect. Electric $83,300 47,550 35,750 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2017 Acoustie Sales $102,400 Cost of goods sold 45,375 Gross profit 57,025 Operating expenses Advertising expense 5,055 Depreciation expense-equipment 10,140 Salaries expense 19,700 Supplies expense 1.960 Rent expense 7,075 Utilities expense 2.975 Total operating expenses 46,905 Net Income (loss) $ 10,120 4,260 8.580 17.300 6,000 2,630 40,500 $4,750). 1. Prepare a departmental contribution report that shows each department's contribution to overhead