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The Components Division manufactures components used in GPS devices. The components can be...

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Accounting

The Components Division manufactures components used in GPS devices. The components can be sold either to the Watch Division of the same company or to outside customers. Last year, the following activity was recorded in the Components Division:
Selling price per component $ 25
Variable cost per component $ 10
Number of components:
Produced during the year 10,000
Sold to outside customers 8,000
Sold to Watch Division 2,000
Sales to the Watch Division were at the same price as sales to outside customers. The components purchased by the Watch Division were used in a sports watch manufactured by that division. The Watch Division incurred $30 in additional variable cost per watch and then sold them for $100 each.
Required:
1. Prepare income statements for last year for each division and the company as a whole.
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