mn.9 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 controlTotalSRepairRepair80.3Proportion 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…

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, and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month c March follow: Department Fabricating Finishing Repair Quality Control Direct Costs $ 136,600 102,200 43,800 205,260 From: Proportion of Services Used by Quality Repair Control Repair 0 0.3 0.3 Fabricating Finishing 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 calculations. Round your final answers to the nearest whole dollar amounts. Quality Control Cost Allocation To: 0.6 0.1 0.1 6.6 Fabricating Finishing

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, and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month c March follow: Department Fabricating Finishing Repair Quality Control Direct Costs $ 136,600 102,200 43,800 205,260 From: Proportion of Services Used by Quality Repair Control Repair 0 0.3 0.3 Fabricating Finishing 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 calculations. Round your final answers to the nearest whole dollar amounts. Quality Control Cost Allocation To: 0.6 0.1 0.1 6.6 Fabricating Finishing

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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Fans Company has two service departments-product design and engineering support, and two production departments - assembly and finishing. The distribution of each service department's efforts to the other departments is shown below: Design SERVICE DEPARTMENT Product Design 0% Engineering Support 20% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Product Design Engineering Support Assembly Finishing Multiple Choice $1,863,265 SERVICES PROVIDED TO Support 10% 0% $623,878 $1,036,122 Assembly 30% 45% $100,000 $ 200,000 $540,000 $ 820,000 The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar) Finishing 60% 35% D
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