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 $83,600 46,750 36,850 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $102,000 Cost of goods sold 45,275 Gross profit 56.725 Operating expenses Advertising expense 4,985 Depreciation expense-Equipment 10,130 Salaries expense 19,700 Supplies expense 1,940 Rent expense 7,095 Utilities expense 2,985 Total operating expenses 46,835 Net income (loss) 9,890 4.150 8,580 17.800 1,720 6,010 2,630 41,090 $14,240) 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 8 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 Red> 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