Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirect expenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss. Departmental Income Statements For Year Ended December 31 Acoustic Electric Sales $ 103, 400 83,600 Cost of goods sold 44,275 47,650 Gross profit 59, 125 35,950 Expenses Advertising 5,025 4,290 Depreciation-Equipment 10,060 8,540 Salaries 19,600 17,200 Supplies used 2,010 1,750 Rent 7,035 5,970 Utilities 3,005 2,630 Total expenses 46,735 40, 380 $ Income (loss) $ 12,390 (4,430) 1. Prepare a departmental contribution to overhead report. 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 Required 1 2 Prepare a departmental contribution to overhead report. Departmental Contribution to Overhead For Year Ended December Acoustic Electric Combined 31 Direct expenses Total direct expenses Departmental contribution to overhead Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirect expenses. The manufacturer is considering eliminating its Electric Guitar department because it shows a loss. Departmental Income Statements For Year Ended December 31 Acoustic Electric Sales $ $ 103,400 83,600 Cost of goods sold 44, 275 47,650 Gross profit 59, 125 35,950 Expenses Advertising 5,025 4,290 Depreciation-Equipment 10,060 8,540 Salaries 19,600 17,200 Supplies used 2,010 1,750 Rent 7,035 5,970 Utilities 3,005 2,630 Total expenses 46,735 40, 380 $ Income (loss) $ 12,390 (4,430) 1. Prepare a departmental contribution to overhead report. 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 Required 1 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?