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 $83,800 47,150 36,650 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $191,900 Cost of goods sold 45,575 Gross profit 56,325 Operating expenses Advertising expense 4,975 Depreciation expense-Equipment 1e, ese Salaries expense 19,800 Supplies expense 2,92e Rent expense 7,025 Utilities expense 2,945 Total operating expenses 46,845 Net income (loss) $ 9,480 4,280 8,560 18, eee 1,71e 6,838 2,610 41,190 $(4,540) 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 Income Statement Showing Departmental Contribution to Overhead For Year Ended December 31, 2019 Acoustic Dept. Electric Dept. Combined Income Statement Showing Departmental Contribution to Overhead For Year Ended December 31, 2019 Acoustic Dept. Electric Dept. Combined Direct expenses Total direct expenses N 0 0 0 Departmental contributions to overhead $ 0 $ 0 $ $ 0 Indirect expenses work Saved Help 0 0 0 Total direct expenses Departmental contributions to overhead Indirect expenses $ 0 $ 0 $ 0 Total indirect expenses 0 $ 0 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?