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Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) uscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the wo service departments' output for the year is as follows: User of Service HR Computing Deposit Loan HR Computing Provider of Service HR $599,000 828,500 25% 65% 10% The budgeted costs in the two service departments for the year are as follows: Computing 25% 65% 10% Required: Use the reciprocal-services method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan lepartments. (Do not round your intermediate calculations and round final answers to the nearest dollar amount.)

Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) uscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the wo service departments' output for the year is as follows: User of Service HR Computing Deposit Loan HR Computing Provider of Service HR $599,000 828,500 25% 65% 10% The budgeted costs in the two service departments for the year are as follows: Computing 25% 65% 10% Required: Use the reciprocal-services method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan lepartments. (Do not round your intermediate calculations and round final answers to the nearest dollar amount.)

FINANCIAL ACCOUNTING
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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Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments' output for the year is as follows: User of Service HR Computing Deposit Loan HR Computing Provider of Service HR $599,000 828,500 - 25% 65% 10% The budgeted costs in the two service departments for the year are as follows: Provider of Service Allocation of HR Department costs Allocation of Computing Department costs Total costs allocated to each department Computing 25% Required: Use the reciprocal-services method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan departments. (Do not round your intermediate calculations and round final answers to the nearest dollar amount.) 65% 10% Answer is complete but not entirely correct. Deposit Loan $ $ 558,913 $ 678,253✔ 1,237,166 $ 85,987 104,347✔ 190,334
Transcribed Image Text:Exercise 17-23 Reciprocal-Services Method; Bank (Appendix) (LO 17-6) Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments' output for the year is as follows: User of Service HR Computing Deposit Loan HR Computing Provider of Service HR $599,000 828,500 - 25% 65% 10% The budgeted costs in the two service departments for the year are as follows: Provider of Service Allocation of HR Department costs Allocation of Computing Department costs Total costs allocated to each department Computing 25% Required: Use the reciprocal-services method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan departments. (Do not round your intermediate calculations and round final answers to the nearest dollar amount.) 65% 10% Answer is complete but not entirely correct. Deposit Loan $ $ 558,913 $ 678,253✔ 1,237,166 $ 85,987 104,347✔ 190,334
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