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 $83,400 46.950 36,450 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $102,000 Cost of goods sold 45,575 Gross profit 56,425 Operating expenses Advertising expense 4,985 Depreciation expense-Equipment 10,090 Salaries expense 19,860 Supplies expense 1,970 Rent expense 7,035 Utilities expense 3.035 Total operating expenses 46.915 Net Income (loss) $ 9,510 4,300 8,600 17,700 1,780 5.980 2.600 40.960 $(4,510) 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 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?