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 classifles advertising, rent, and utilities expenses as indirect. Electrie $83, 100 47,550 35,550 WHOLESALE GUTTANS Departmental Tncome Statement For Year Ended December 31, 2019 Acoustic Sales 5103, 400 Cont of goods sold 43.225 Gross profit 59,625 Operating expenses Advertising expense 5,005 Depreciation expense-Equipment 10.120 Salaries expense 20,000 Supplies expense 1.930 Rent axpense 7.025 Utilities expense 2,975 Total operating expenses 47,055 Net Income (loan) $ 12,570 4,320 8.600 17,000 1.750 6,000 2,630 40,300 $(4,750) 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 Prepare a departmental contribution report that shows each department's contribution to overhead WHOLESALE GUITARS 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 Dept. Combined Direct expenses Total direct expenses Departmental contributions to overhead Indirect expenses Total indirect expenses 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?