FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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