The following data were summarized from the accounting records for DeSalvo Const

Question

The following data were summarized from the accounting records for DeSalvo Construction Company for the year ended June 30, 2014: Cost of goods sold: Service department charges: Commercial Division $440,260 Commercial Division $60,040 Residential Division 224,130 Residential Division 38,820 Administrative expenses: Net sales: Commercial Division $80,050 Commercial Division $667,060 Residential Division 80,050 Residential Division 400,240 Hide Prepare divisional income statements for DeSalvo Construction Company. DeSalvo Construction Company Divisional Income Statements For the Year Ended June 30,2014 Commercial Division Residential Division

Explanation / Answer

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DIVISIONAL INCOME STATEMENT Commercial Residential Sales 667060 400240 Cost of goods sold 440260 224130 Gross profit 226800 176110 Less: Service deptt charges 60040 38820 Income 166760 137290 Less: Admin expense 80050 80050 Net operating income 86710 57240

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