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(Solution Download) Vortex Company operates a retail store with two departments. Information about those departments fol


 

 

 

 

 

 

 

Vortex Company operates a retail store with two departments.

 

Information about those departments follows.

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Department A

 

Department B

  Sales

 

  $832,000

 

  $448,000

  Cost of goods

 

sold

 

  499,200

 

  313,600

  Direct expenses

 

     Salaries

 

  126,000

 

  89,000

 

     Insurance

 

  15,000

 

  10,000

 

     Utilities

 

  26,000

 

  8,000

 

     Depreciation

 

  22,000

 

  13,000

 

     Maintenance

 

  7,000

5,000

 


 

 

 

 

 

 

 

The company also incurred the

 

following indirect costs.

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Salaries$24,000
  Insurance6,000
  Depreciation18,000
  Office expenses40,000

 


 

 

 

 

 

 

 

 

Indirect costs are allocated as follows: salaries on the basis

 

of sales; insurance and depreciation on the basis of square

 

footage; and office expenses on the basis of number of employees.

 

Additional information about the departments follows.

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  DepartmentSquare

 

footage

Number of

 

employees

  A36,00075
  B12,00050

 

 

 

 

 

 

 

 

For each department, determine the departmental contribution to

 

overhead and the departmental net income.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vortex Company

 

Departmental Income Statements

 

Dept. A

 

Dept. B

Sales

 

 

Cost of

 

goods sold

 

 

Gross

 

margin

 

Direct

 

expenses

 

Salaries

 

 

 

Insurance

 

 

 

Utilities

 

 

 

Depreciation

 

 

 

Maintenance

 

 

Total

 

direct expenses

 

Departmental contribution to overhead

Allocated

 

indirect expenses

 

Salaries

 

 

 

Insurance

 

 

 

Depreciation

 

 

Office

 

expenses

 

 

Total

 

allocated indirect expenses

 

Departmental net income

 

 

 

 


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