Required: (for peso value round off to P1.00; two decimal places for percentage)Using the reciprocal method, allocate service department costs to producingdepartments and calculate the overhead rates for each producing department follows:Quickies Services, Inc. shows the following estimated operating statistics for thisyear:Service Centers:CafeteriaPersonnelCafeteriaPersonnelPersonnelProcessedDept. QDept.SDept. T2015Producing DepartmentsDept. Q80Dept. S20Dept. T10Budgeted overhead costs for the year and the cost drivers for each departmentsOverheadCost DriverP200,000No. of employees100,000No. of personnel processed800,000No. ofemployees900600250300,0002550600,000Direct laborHours100,000 DLH150,000 DLH50,000 DLHDirect labor hoursDirect labor hoursDirect labor hours

Answered: Image /qna-images/answer/3df9ff7a-d13a-4451-be4b-c9ba90a67622.jpg

follows: Quickies Services, Inc. shows the following estimated operating statistics for this year: Service Centers: Cafeteria Personnel Cafeteria Personnel Dept. Q Dept.S Dept. T Personnel Processed 80 20 10 20 15 Producing Departments Dept. Q Dept. S Dept. T Budgeted overhead costs for the year and the cost drivers for each departments Overhead Cost Driver P200,000 No. of employees 100,000 No. of personnel processed 800,000 No. of employees 900 600 250 300,000 25 50 600,000 Direct labor Hours 100,000 DLH 150,000 DLH 50,000 DLH Direct labor hours Direct labor hours Direct labor hours

follows: Quickies Services, Inc. shows the following estimated operating statistics for this year: Service Centers: Cafeteria Personnel Cafeteria Personnel Dept. Q Dept.S Dept. T Personnel Processed 80 20 10 20 15 Producing Departments Dept. Q Dept. S Dept. T Budgeted overhead costs for the year and the cost drivers for each departments Overhead Cost Driver P200,000 No. of employees 100,000 No. of personnel processed 800,000 No. of employees 900 600 250 300,000 25 50 600,000 Direct labor Hours 100,000 DLH 150,000 DLH 50,000 DLH Direct labor hours Direct labor hours Direct labor hours

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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