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. Departmental Income Statements For Year Ended December 31 Acoustic Electric Sales $ 102, 800 $ 84,000 Cost of goods sold 45,375 47,450 Gross profit 57,425 36,550 Expenses Advertising 5,035 4,340 Depreciation-Equipment 10,050 8,530 Salaries 19,900 17,400 Supplies used 2,010 1,740 Rent 7,025 5,980 Utilities 2,955 2,600 Total expenses 46,975 40,590 Income (loss) $ 10,450 $ (4,040) 1. Prepare a departmental contribution to overhead report. 2. Based on contribution to overhead, should the electric guitar department be eliminated?Required 1 Required 2 Prepare a departmental contribution to overhead report. Departmental Contribution to Overhead For Year Ended December 31 Acoustic Electric Combined Gross profit Direct expenses Total direct expenses Departmental contribution to overhead Complete this question by entering your answers in the tabs below. 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?