Ashvin Exercise 11-30 (Algo) Cost Allocation: Reciprocal Method (LO 11-1)Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair, andQuality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month ofMarch follow.DepartmentFabricatingFinishingRepairQuality ControlFrom:Direct Costs$ 136,600102,20043,800205,260Service department costsRepairQuality controlTotal$RepairRepair80.3Proportion of Services Used byQualityControlRequired:Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.)Note: Amounts to be deducted should be Indicated by a minus sign. Do not round Intermediate calculations. Round your finalanswers to the nearest whole dollar amounts.0 $0.30QualityControlCost Allocation To:Fabricating Finishing00.60.1$Fabricating00.10.6FinishingS0

The service department costs are allocated to the production departments using different methods as…

Department Fabricating Finishing Repair Quality Control Direct Costs $ 136,600 102,200 43,800 205,260 Repair 8 0.3 Proportion of Services Used by Quality Control 0.3 0 Fabricating Finishing 9.6 0.1 0.1 6.6 Required: Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.) Note: Amounts to be deducted should be Indicated by a minus sign. Do not round Intermediate calculati answers to the nearest whole dollar amounts.

Department Fabricating Finishing Repair Quality Control Direct Costs $ 136,600 102,200 43,800 205,260 Repair 8 0.3 Proportion of Services Used by Quality Control 0.3 0 Fabricating Finishing 9.6 0.1 0.1 6.6 Required: Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.) Note: Amounts to be deducted should be Indicated by a minus sign. Do not round Intermediate calculati answers to the nearest whole dollar amounts.

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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