Chilton Day School allocates marketing and administrative costs to its three schools on the basis of each school’s annual tuition revenue (as a percentage of the total). Last year allocations (000s omitted) were as follows: Exercises 18-30 (Algo) Allocation of Marketing and Administrative Costs; Profit Centers [LO 18-3]Chilton Day School allocates marketing and administrative costs to its three schools on the basis of each school's annualtuition revenue (as a percentage of the total). Last year the allocations (000s omitted) were as follows:Tuition revenueMarketing and administrationMiddlePreschool School$ 1,620 $ 1,920385335Cost allocationIn the current year, the middle and high schools experienced no change in revenues, but the preschool's tuition revenueincreased to $2.02 million. Marketing and administrative costs rose to $1,370,000.PreschoolHighSchool$ 2,320460Required:1. Using revenue as an allocation base, how much current year cost will be allocated to the: (Do not round intermediatecalculations. Round your final answers to the nearest whole dollar amounts. Similar to the given information, omit 000sfrom your answer.)Middle School High SchoolTotal$ 5,8601,180$Total0

Cost allocation refers to assigning the cost. The cost can be assigned using different methods.…

Exercises 18-30 (Algo) Allocation of Marketing and Administrative Costs; Profit Centers [LO 18- 3] Chilton Day School allocates marketing and administrative costs to its three schools on the basis of each school's annual tuition revenue (as a percentage of the total). Last year the allocations (000s omitted) were as follows: Tuition revenue Marketing and administration Preschool $ 1,620 335 Cost allocation Middle School $ 1,920 385 Preschool In the current year, the middle and high schools experienced no change in revenues, but the preschool's tuition revenue increased to $2.02 million. Marketing and administrative costs rose to $1,370,000. High School $ 2,320 460 Required: 1. Using revenue as an allocation base, how much current year cost will be allocated to the: (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. Similar to the given information, omit 000s from your answer.) Middle School High School Total $5,860 1,180 $ Total 0

Exercises 18-30 (Algo) Allocation of Marketing and Administrative Costs; Profit Centers [LO 18- 3] Chilton Day School allocates marketing and administrative costs to its three schools on the basis of each school's annual tuition revenue (as a percentage of the total). Last year the allocations (000s omitted) were as follows: Tuition revenue Marketing and administration Preschool $ 1,620 335 Cost allocation Middle School $ 1,920 385 Preschool In the current year, the middle and high schools experienced no change in revenues, but the preschool's tuition revenue increased to $2.02 million. Marketing and administrative costs rose to $1,370,000. High School $ 2,320 460 Required: 1. Using revenue as an allocation base, how much current year cost will be allocated to the: (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. Similar to the given information, omit 000s from your answer.) Middle School High School Total $5,860 1,180 $ Total 0

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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