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g Required information Problem 24-48 (LO 24-2) (Algo) The following information applies to the questions displayed below.] Falmouth Kettle Company, a US corporation, sells its
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Required information Problem 24-48 (LO 24-2) (Algo) The following information applies to the questions displayed below.] Falmouth Kettle Company, a US corporation, sells its products in the United States and Europe. During the current year, selling general, and administrative (SG&A) expenses included Personnel department Training department President's salary Sales manager's salary Other general and administrative Total SG&A expenses $ 540 360 410 288 562 $ 2,080 Falmouth had $12.480 of gross sales to US customers and $3,120 of gross sales to European customers Gross income sales minus cost of goods sold) from domestic sales was $3,120 and gross profit from foreign sales was $1,040. Apportion Falmouth's SG&A expenses to foreign source come using the following methods a. Gross sales. (Do not round intermediate calculations.) Foreign source income U.S. source income b. Gross income. (Do not round intermediate calculation Foreign source income U.S. source income Step by Step Solution
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