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3. Savings Bank of Goodworks has three revenue-generating departments: checking accounts, savings accounts, and loans. The bank also has three service areas: administration, personnel, and accounting. The direct costs per month and the interdepartmental service structure are shown below: Dept. Administration Personnel Accounting Checking Savings Loans Costs P40,000 23,000 30,000 41,000 25,000 16,000 Percentage of Service Used by Admin. Pers. Acctg. Check. Sav. Loans 10 10 40 20 20 10 20 40 20 20 20 40 10 10 - 10 The savings bank uses the sequential (step) method and the service departments are allocated in the following order: administration, personnel, and accounting. How much cost would be allocated to the loan area from the personnel department using the sequential/step method? (Round to two decimal places)

3. Savings Bank of Goodworks has three revenue-generating departments: checking accounts, savings accounts, and loans. The bank also has three service areas: administration, personnel, and accounting. The direct costs per month and the interdepartmental service structure are shown below: Dept. Administration Personnel Accounting Checking Savings Loans Costs P40,000 23,000 30,000 41,000 25,000 16,000 Percentage of Service Used by Admin. Pers. Acctg. Check. Sav. Loans 10 10 40 20 20 10 20 40 20 20 20 40 10 10 - 10 The savings bank uses the sequential (step) method and the service departments are allocated in the following order: administration, personnel, and accounting. How much cost would be allocated to the loan area from the personnel department using the sequential/step method? (Round to two decimal places)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3. Savings Bank of Goodworks has three revenue-generating departments: checking accounts, savings accounts, and loans. The bank also has three service areas: administration, personnel, and accounting. The direct costs per month and the interdepartmental service structure are shown below: Dept. Administration Personnel Accounting Checking Savings Loans Costs P40,000 23,000 30,000 41,000 25,000 16,000 Percentage of Service Used by Admin. Pers. Acctg. Check. Sav. 10 10 40 20 10 20 40 20 20 10 10 - 10 Loans 20 20 40 The savings bank uses the sequential (step) method and the service departments are allocated in the following order: administration, personnel, and accounting. How much cost would be allocated to the loan area from the personnel department using the sequential/step method? (Round to two decimal places)
Transcribed Image Text:3. Savings Bank of Goodworks has three revenue-generating departments: checking accounts, savings accounts, and loans. The bank also has three service areas: administration, personnel, and accounting. The direct costs per month and the interdepartmental service structure are shown below: Dept. Administration Personnel Accounting Checking Savings Loans Costs P40,000 23,000 30,000 41,000 25,000 16,000 Percentage of Service Used by Admin. Pers. Acctg. Check. Sav. 10 10 40 20 10 20 40 20 20 10 10 - 10 Loans 20 20 40 The savings bank uses the sequential (step) method and the service departments are allocated in the following order: administration, personnel, and accounting. How much cost would be allocated to the loan area from the personnel department using the sequential/step method? (Round to two decimal places)
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