The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 3. Rails Locomotive Corporate Division Division Total Cost of goods sold $45,700 $28,800 Direct operating expenses 27,600 22,800 Sales 94,100 68,700 Interest expense $2,600 General overhead 19,700 Income tax 4,400 The gross profit for the Rails Division is Oa. $20,800 Ob. $94,100 Oc. $48,400 Od. $66,500
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 3. Rails Locomotive Corporate Division Division Total Cost of goods sold $45,700 $28,800 Direct operating expenses 27,600 22,800 Sales 94,100 68,700 Interest expense $2,600 General overhead 19,700 Income tax 4,400 The gross profit for the Rails Division is Oa. $20,800 Ob. $94,100 Oc. $48,400 Od. $66,500
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter14: Decentralized Operations
Section: Chapter Questions
Problem 14.2E: Divisional income statements The following data were summarized from the accounting records for...
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