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Problem - Durwood Thomas operates the business Thomas Security that sells security equipment for commercial property and residential homes. The following information is provided for the year ended December 31, 20--:
Commercial Property
Residential Homes
Net sales
$465,000
$135,000
Cost of goods sold
279,250
54,000
Direct operating expenses:
Advertising expense
35,000
20,000
Store clerks' wages expense
30,000
18,000
Truck drivers' wages expense
15,000
Bad debt expense
8,000
3,000
Depreciation expense-delivery equipment
6,000
4,000
Other operating expenses
10,000
Indirect operating expenses:
$10,000
Store rent expense
Required -
1. Prepare an income statement showing departmental direct operating margin and total operating income.
2. Calculate departmental direct operating margin percentages.
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