Please help me Dunedin Bank has two operating departments (Retail and Commercial) and three service departments: Operations, InformationTechnology (IT), and Transactions. For the last period, the following costs and service department usage ratios were recorded:SupplyingDepartmentTransactionsITOperationsDirect costITFrom:TransactionsOperationsTransactionsTotal010%60%$ 370,000ITCosts OperationsUsing DepartmentOperations000$ 790,000Allocated to:Transactions030%$$ 1,630,000Required:a. Allocate the service department costs to the two operating departments using the reciprocal method.Retail0 $$ 3,830,000Retail Commercial70%30%10%0Commercial30%30%30%$ 2,380,000

Solution:a. From:CostsOperationsTransactionsRetail CommercialIT$ 790,000$ 237,000$ 79,000$…

Dunedin Bank has two operating departments (Retail and Commercial) and three service departments: Operations, Information Technology (IT), and Transactions. For the last period, the following costs and service department usage ratios were recorded: Supplying Department Transactions IT Operations Direct cost Transactions 0 10% 60% $ 370,000 IT Using Department Operations 0 0 0 $ 790,000 0 30% 0 $ 1,630,000 Retail 70% 30% 10% $ 3,830,000 Commercial 30% 30% 30% $ 2,380,000 Required: a. Allocate the service department costs to the two operating departments using the reciprocal method.

Dunedin Bank has two operating departments (Retail and Commercial) and three service departments: Operations, Information Technology (IT), and Transactions. For the last period, the following costs and service department usage ratios were recorded: Supplying Department Transactions IT Operations Direct cost Transactions 0 10% 60% $ 370,000 IT Using Department Operations 0 0 0 $ 790,000 0 30% 0 $ 1,630,000 Retail 70% 30% 10% $ 3,830,000 Commercial 30% 30% 30% $ 2,380,000 Required: a. Allocate the service department costs to the two operating departments using the reciprocal method.

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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