From the Following Partial Data,prepare a Departmental Income Statement Showing

question 119

Essay

From the following partial data,prepare a departmental income statement showing income before tax along with net income for Mason Corporation for the month ended December 31.
$\begin{array} { l r } \text { Net Sales-Sporting Coods } & \$ 3,000 \\ \text { Net Sales-Shoes } & 1,500 \\ \text { Cost of Goods Sold-Sporting Coods } & 1,950 \\ \text { Cost of Goods Sold-Shoes } & 900 \end{array}$
Income Tax Rate is $30 \%$
Sporting Goods Dept. $- 5,000$ square feet
Shoe Dept. $- 3,000$ square feet
The following items are indirect expenses and should be allocated:
$$\begin{array}{l}\begin{array} { l r l }&\text { Basis of Appropriation }\\ \text { Building Expense } & \$ 240 & \text { Square Footage } \\\text { Delivery Expense } & \$ 135 & \text { Net Sales } \\\text { Depreciation Expense } & \$ 40 & \text { Square Footage }\end{array}\end{array}$$

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Definitions:

Researchers

Individuals or professionals who conduct detailed study and systematic investigation into something with the aim of discovering or revising facts, theories, applications, etc.

Control

In an experiment, a standard against which the results of a test are compared; controls are kept constant to isolate the effect of the independent variable.

Descriptive Statistics

Statistical procedures that summarize, organize, and simplify data through numerical summaries, tables, and graphs.

Sample

A subset of a larger population selected for measurement, observation, or questioning to make inferences or predictions about the whole population.