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, 500 46,950 36,550 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $102,200 Cost of goods sold 44,675 Gross profit 57,525 Operating expenses Advertising expense 5,045 Depreciation expense-Equipment 10,050 Salaries expense 20, 100 Supplies expense 1,990 Rent expense 7,065 Utilities expenae 2.995 Total operating expenses 47,245 Net income (los) # 10, 280 4,340 3, 510 17,300 1,790 5,980 2, 610 40,530 (3,980) 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? 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 Required 2 > 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?