Below are departmental income statements for a guitar manufacturer. The manufacturer is considering guitar department since it has a net loss. The company classifies advertising, rent, and utilities expenses as indirect. WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $103,500 Cost of goods sold 44,875 Gross profit 58,625 Operating expenses Advertising expense 4,995 Depreciation expense-Equipment 10, 140 Salaries expense 20,200 Supplies expense 1,940 Rent expense 7,025 Utilities expense 2.955 Total operating expenses 47,255 Net income (loss) $ 11,370 Electric $83,900 47,150 36,750 4,330 8,600 17,500 1,750 6,020 2,560 140,760 $14,010) 1. Prepare a departmental contribution report that shows each department's contribution to overhead. 2. Based on contribution to overhead, should the electric guitar department be eliminated? Required 1 Required 2 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, 2019 Acoustic Dept. Electric Dupt. Combined Direct expenses Total direct expenses Dental contribution to overhead Indirect expenses Total indirect apo 1. Prepare a departmental contribution report that shows each department's contribution to overhead. 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 Based on contribution to overhead, should the electric guitar department be eliminated? Based on contribution to overhead, should the electric guitar department be eliminated? Required 1