i need the answer quickly 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:DepartmentFabricatingFinishingRepairDirect Costs$ 154,600110,200Quality Control47,400167,780Required:Proportion of Services Used byQualityRepair Control Fabricating Finishing8.30.50.20.10.6Use 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.Cost Allocation To:QualityFrom:RepairControlFabricatingFinishingService department costs$47,400 $167,780 $0$DRepairQuality controlTotal$47,400 $167,780 $0$0

Lets understand the basics.Cost of service department can be allocated to production department…

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.)

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.)

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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