Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirect expenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss. Electric $ 83,600 47,050 36,550 Departmental Income Statements For Year Ended December 31 Acoustic Sales $ 103,000 Cost of goods sold 44,075 Gross profit 58, 925 Expenses Advertising 5,075 Depreciation-Equipment 10,130 Salaries 19,700 Supplies used 1,950 Rent 7,035 Utilities 3,015 Total expenses 46,905 Income (loss) $ 12,020 4,340 8,560 17,500 1,770 5,960 2,620 40,750 $ (4,200) 1. Prepare a departmental contribution to overhead report. 2. Based on contribution to overhead, should the electric guitar department be eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a departmental contribution to overhead report. Departmental Contribution to Overhead For Year Ended December 31 Acoustic Electric Combined Direct expenses Total direct expenses Departmental contribution to overhead Required 1 Required 2 Based on contribution to overhead, should the electric guitar department be eliminated? Based on contribution to overhead, should the electric guitar department be eliminated?