Prepare an Income Statement Showing Departmental Contribution Margin Based on the Following

Essay

Prepare an income statement showing departmental contribution margin based on the following:
$$\begin{array} { l r r r } & \text { Dept. X } & \text { Dept. Y } & \text { Rent Expense } \\\text { Space (square feet) } & 17,500 & 35,000 & \\\text { Net Sales } & \$ 60,000 & \$ 40,000 & \\\text { Cost of Goods Sold } & 18,000 & 16,000 & \\\text { Rent Expense (allocated based on square feet) } & & & \$ 2,700\end{array}$$