The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $47,700 $29,000 Direct operating expenses 27,100 20,500 Sales 93,300 67,000 Interest expense $2,800 General overhead 18,900 Income tax 4,100 The gross profit for the Rails Division is Oa. $66,200 Оь. S45,600 Oc. $93,300 Od. $18,500

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $47,700 $29,000 Direct operating expenses 27,100 20,500 Sales 93,300 67,000 Interest expense $2,800 General overhead 18,900 Income tax 4,100 The gross profit for the Rails Division is Oa. $66,200 Оь. S45,600 Oc. $93,300 Od. $18,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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