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 ? ?
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
23rd Edition
ISBN:9781337794756
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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