Please assist me in the following

142 points eBook Hint Print Exercise 24-7 Departmental contribution report LO P3 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 classies advertising. rent. and utilities expenses as indirect. WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 201'] Acoustic Electric Sales $102,000 $34,900 Cost of goods sold 44.075 47:45!) Gross profit 53,725 37,450 Operating expenses Advertising expense 5, 005 4,250 Depreciation expenseequipment 10 , 140 E , 540 Salaries expense 20, 000 17,300 Supplies expense 1, 970 1,790 Rent expense 7,065 5,960 Utilities expense 3, 005 2,530 Total operating expenses 47 , 135 40 , 420 Net income (loss) $ 11.540 $(2r970) 1. Prepare a departmental contribution report that shows each department's contribution to overhead. 1. Prepare a departmental contribution report that shows each department's contribution to overhead. ___ Total direct expenses ___ Departmental contributions to _- overhead 2. Based on contribution to overhead, should the electric guitar department be eliminated? \"N0 \" Yes Cost of goods sold Depreciation expenseequipment Rent expense Salaries expense . : Ire expenses overhead WHOLESALE GUITARS Income Statement Showing Departmental Co For Year Ended December 3 Acoustic Dept. Rent expense Salaries expense Sales Supplies expense Utilities expense lotal direct expenses atribution