The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8: Cost of goods sold:     Support department allocations:     Commercial Division $542,410     Commercial Division $73,970   Residential Division 262,330     Residential Division 45,440 Administrative expenses:     Sales:     Commercial Division $98,620     Commercial Division $821,840   Residential Division 93,690     Residential Division 468,450 Prepare divisional income statements for Ruiz Industries Inc. Ruiz Industries Inc. Divisional Income Statements For the Year Ended November 30, 20Y8   Commercial Division Residential Division Sales  ? ? Cost of goods sold  ? ? Gross profit  ? ? Administrative expenses  ? ? Operating income before support department allocations  ? ? Support department allocations  ? ? Operating income  ? ?

College Accounting, Chapters 1-27
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Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter25: Departmental Accounting
Section: Chapter Questions
Problem 7SPA: INCOME STATEMENT WITH DEPART MENTAL GROSS PROFIT AND OPERATING INCOME Thomas and Hill Distributors...
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Divisional Income Statements

The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8:

Cost of goods sold:     Support department allocations:  
  Commercial Division $542,410     Commercial Division $73,970
  Residential Division 262,330     Residential Division 45,440
Administrative expenses:     Sales:  
  Commercial Division $98,620     Commercial Division $821,840
  Residential Division 93,690     Residential Division 468,450

Prepare divisional income statements for Ruiz Industries Inc.

Ruiz Industries Inc.
Divisional Income Statements
For the Year Ended November 30, 20Y8
  Commercial Division Residential Division
Sales  ? ?
Cost of goods sold  ? ?
Gross profit  ? ?
Administrative expenses  ? ?
Operating income before support department allocations  ? ?
Support department allocations  ? ?
Operating income  ? ?

 

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