Need answer the accounting question please answer Oceanic Enterprises rents a building with a total of 120,000square feet, evenly divided between two floors. The companyallocates the rent for space on the first floor at twice the rate forspace on the second floor. The total monthly rent for thebuilding is $36,000. How much of the monthly rental expenseshould be allocated to a department that occupies 20,000square feet on the first floor? (Do not round your intermediatecalculations.)A. $12,000.B. $6,000.C. $15,000.D. $8,000.

Step 1: Calculate Rent AllocationRent allocation involves dividing total rent costs among…

Answered: Oceanic Enterprises rents a building…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

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A company purchases a 10,020-square-foot commercial building for $325,000 and spends an additional $50,000 to divide the space into two separate rental units and prepare it for rent. Unit A, which has the desirable location on the corner and contains 3,340 square feet, will be rented for $1.00 per square foot. Unit B contains 6,680 square feet and will be rented for $0.75 per square foot. How much of the joint cost should be assigned to Unit B using the value basis of allocation?
A company purchases a 7,920-square-foot building for $410,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 1,620 square feet, will be rented for $2.00 per square foot. Unit B contains 6,300 square feet and will be rented for $1.20 per square foot. How much of the joint cost should be allocated to Unit A and to Unit B using the value basis of allocation?
Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs and Markson paid $360 for 5,000 copies and $280 for 3,000 copies,
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Markson and Sons leases a copy machine with terms that include a fixed fee each month of $313 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid a variable cost of $0.15, how much would Markson pay if it made 7,814 copies? Round to the nearest penny, two decimals.
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