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 March follow Department Proportion of Services Used by Quality Direct Costs Repair Control Fabricating Finishing $154,600 Fabricating Finishing Repair Quality Control Required: 110,200 47,400 167,780 8.3 8.5 0.1 0.2 8.6 Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.)

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.