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:

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

  

$  

$  

  

  

  

  

$  

$  

  

  

  

  

$  

$  

  

  

  

  

$  

$  

Cost of goods sold: Service department charges: Commercial Division $487,110 Commercial Division $66,420 Residential Division 231,450 Residential Division 40,090 Administrative expenses: Net sales: Commercial Division $88,570 Commercial Division $738,050 Residential Division 82,660 Residential Division 413,310

Explanation / Answer

DeSalvo Construction Company Divisional Income Statements For the Year Ended June 30, 2014 Commercial Division Residential Division Net sales: 738050 413310 Cost of goods sold: 487110 231450 Gross Margin 250940 181860 Administrative expenses: 88570 82660 Income from operations before service department charges 162370 99200 Service department charges: 66420 40090 Income from operations 95950 59110

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