Electric $ 84,700 47,350 37,350 FUVUDSOUD VIIN Departmental Income Statements For Year Ended December 31, 2017 Acoustic Sales $102,800 Cost of goods sold 44,175 Gross profit 58,625 Operating expenses Advertising expense 5,035 Depreciation expense-equipment 10,140 Salaries expense 19,900 Supplies expense 1,970 Rent expense 7,105 Utilities expense 3,025 Total operating expenses Net income (loss) $ 11,450 4,290 8,530 17,600 1,780 6,020 2,570 40,790 $ (3,440) 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 expenses Total indirect expenses