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 $84,400 42,450 36,950 WHOLESALE GUITARS Departmental Income Statemente For Year Ended December 31, 2017 Acoustic Sales $103, 100 Cost of goods sold 44,875 Gross profit 58,225 Operating expenses Advertising expense 5,025 Depreciation expense-equipment 10.060 salaries expense 19,300 Supplies expense 1,940 Rent expense 7.085 Utilities expense 2.985 Total Operating expenses 46,395 Net Income (los) 5 11,830 4,320 8,580 17,500 1,730 6,030 2.550 40,210 $(3,760) 1. Prepare a departmental contribution report that shows each department's contribution to overhead, 5 WHOLESALE GUITARS Income Statement Showing Departmental Contribution to overhead For Year Ended December 31, 2017 Acoustic Dept. Electric Dept. Combined Direct expenses 1. 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, 2017 Acoustic Dept. Electric Dept. Combined Direct expenses Total direct expenses Departmental contributions to overhead Indirect expensos Total Indirect expenses