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Divisional Income Statements The following data were summarized from the accounting records for Ruiz Industries Inc....

Divisional Income Statements

The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November 30, 20Y8:

Cost of goods sold: Support department allocations:
Commercial Division $342,370 Commercial Division $46,690
Residential Division 162,670 Residential Division 28,180
Administrative expenses: Sales:
Commercial Division $62,250 Commercial Division $518,740
Residential Division 58,100 Residential Division 290,490

Prepare divisional income statements for Ruiz Industries Inc.

Ruiz Industries Inc.
Divisional Income Statements
For the Year Ended November 30, 20Y8
Commercial Division Residential Division
Sales $fill in the blank 2 $fill in the blank 3
Cost of goods sold fill in the blank 5 fill in the blank 6
Gross profit $fill in the blank 8 $fill in the blank 9
Administrative expenses fill in the blank 11 fill in the blank 12
Operating income before support department allocations $fill in the blank 14 $fill in the blank 15
Support department allocations fill in the blank 17 fill in the blank 18
Operating income $fill in the blank 20 $fill in the blank 21
Business   Accounting   
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Answer #1
Ruiz Industries Inc.
Divisional Income Statements
For the Year Ended November 30, 20Y8
Commercial Division Residential Division
Sales 518,740 290,490
Cost of goods sold -342,370 -162,670
Gross profit $176,370 $127,820
Administrative expenses -62,250 -58,100
Operating income before support department allocations $114,120 $69,720
Support department allocations -46,690 -28,180
Operating income $67,430 $41,540

Kindly comment if you need further assistance. Thanks‼!            

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