Problem 11-60 (Static) Cost Allocation: Step and Reciprocal Methods (LO 11-1) Dunedin Bank has two operating departments (Retail and Commercial) and three service departments: Operations, Infor Technology (IT), and Transactions. For the last period, the following costs and service department usage ratios were rec Supplying Department Transactions IT Operations Direct cost IT From: Operations Transactions Total Transactions 0 10% 60% $ 240,000 IT Costs Operations 0 0 0 $ 660,000 Using Department Operations Allocated to: Transactions Required: a. Allocate the service department costs to the two operating departments using the reciprocal method. S 0 20% 0 $ 1,500,000 Retail Retail 0 $ $ 3,700,000 Commercial 70% 30% 10% 0 Commercial 30% 40% 30% $ 2,250,000

Problem 11-60 (Static) Cost Allocation: Step and Reciprocal Methods (LO 11-1) Dunedin Bank has two operating departments (Retail and Commercial) and three service departments: Operations, Infor Technology (IT), and Transactions. For the last period, the following costs and service department usage ratios were rec Supplying Department Transactions IT Operations Direct cost IT From: Operations Transactions Total Transactions 0 10% 60% $ 240,000 IT Costs Operations 0 0 0 $ 660,000 Using Department Operations Allocated to: Transactions Required: a. Allocate the service department costs to the two operating departments using the reciprocal method. S 0 20% 0 $ 1,500,000 Retail Retail 0 $ $ 3,700,000 Commercial 70% 30% 10% 0 Commercial 30% 40% 30% $ 2,250,000

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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