answer in text form please (without image) Clockwork and Watches are departments of a company called It's Time. Clockwork andWatches are the operating departments of the company, but there are two supportdepartments: HR and IT.The budgets of each of the departments are below. HR time is measured by # of employees,and IT is measured by claim tickets.ITBudget $100,00010EmployeesClaim TicketsHR$50,00025Clockworks$500,0005040Watches$400,0004040Allocate the support department costs to the operating departments using the DirectMethod.

Direct method of allocation allocates cost of the support departments to the operating department in…

Answered: s: HR and IT. of each of the…

Business

Accounting

s: HR and IT. of each of the departments are below. HR time is measure asured by claim tickets.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Attributes about an entity- Select one. O a. Database O b. Record O c. Field O d. File

A: Attributes about an entity are fields.

Q: Namespaces must be declared at the beginning of an XBRL do

A: Answer: The Internet address(URL) where an XBRL taxonomy "lives". Name spaces must be declared at…

Q: information: provide excel template to work

A: Net Present Value (NPV): NPV is a method used to assess the profitability of an investment by…

Q: In which document would you find the MD&A? O A. Form 8-K O B. Form 10-K O C. Both A and B O D.…

A: Paid-in Capital Paid-in capital is that the total quantity cash equivalents contributed to a company…

Q: Show how to insert formula in excel

A: Perpetuity: It is a stream of cash flow that is presumed to continue for an indefinite period.

Q: Q1. Provide in full the meaning of these abbreviations and tell briefly how they interface with the…

A: PIMS (PID-MoF) - Public Investment Management (Public Investment Division- Ministry of Finance)…

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: Please show working for Question 1 without using a spreadsheet

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: Which of the following can be uploaded to QBO as attachments? Select one: A. Word documents B. Excel…

A: QBO is Quickbooks accounting software that is an online software used for accounting and recording…

Q: Please explain the video https://youtu.be/e2CjAgGclkM

A: Liquidity Ratios:Current Ratio: This ratio measures a company's ability to pay its short-term…

Q: Please show all equations and work as needed. Make the correct answer clear. If possible, please…

A: Calculation of WACC of firm after leverage (effective after-tax):Answer:WACC after leverage is…

Q: rmn.3 answer must be in table format or i will give down vote

A: Approach to solving the question:I need more context about this. If you give me more information…

Q: Which "view" gives you the ability to drop and drag fields to create relationships between tables? O…

A: The "view" that typically allows you to drag and drop fields to create relationships between tables…

Q: Which function in excel did you use

A: The concept of time value of money will be used here. The amount needed today will be the sum of…

Q: Complete the remaining sub-parts

A: Adjusted journal entries made at the end of an accounting period to adjust some accounts to ensure…

Q: Describe the purpose of caash receipts journal.

A: The cash receipts journal is a special section of the general journal specifically used to record…

Q: How to create the t account

A: T account is a representation of the legder that records business transactions. It is in the form of…

Q: Question 9: When a workbook is protected, you can still Answer: A. B. C. D. O delete worksheets O…

A: Here discuss about the details of the data workbook protection in the excel and its uses as well.…

Q: Bramble Corp. is a retailer operating in Calgary, Alberta, Bramble Corp. uses the perpetual…

A: Lets understand the basics.There are various methods followed for calculating cost of goods sold and…

Q: 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for…

Q: All the following are reporting views found in Tableau, except: O a. Dashboard. O b. Story. O c.…

A: Tableau is a powerful and versatile data visualization and business intelligence tool that empowers…

Q: please help me with part E.

A: A question with multiple sub parts were asked by you earlier. One of the sub parts were not…

Q: What is receivable management? Explain it?

A: The receivable management is the process of managing and tract the account receivable, especially it…

Q: Explain how the E-R diagrams is used to prepare database tables. Also, include explanation of…

A: ER diagram stands for "Entity Relationship", which can be defined as a type of flowchart that is a…

Q: Hi can u post this transaction for me please ( the current Answers are wrong)

A: Journal entry refers to an entry that records all the transactions which are financial in nature. It…

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: Give an application for a partitioned database.

A: Database Management: It refers to the process of managing the databases that are held within a…

Q: Describe the elements of an e-mail address.

A: Internet: Internet is the means of communication which connects one smart device with any other…

Q: Show the solution in a handwritten format/way.

A: Working Note #1 Working Note #2 Working Note #3

Q: A is a textual description that explains a section of programming code. Keyword Procedure Name…

A: A programming code is a set of instructions that a programmer gives to the computer by way of a…

Q: dger turo

A: Explanation of Concept Ledger Posting : is the step in the process of preparing the books accounts…

Q: journal entries u

A: Prepaid Expense-:A Prepaid Expense is a variety of assets for the firm which is presented on the…

Q: For each of the transactions for the month below, journalize the necessary entry. The first entry…

A: Job costing is a system in which costs are recorded for a particular job rather than the entire…

Q: Please answer E & G from the attached questions . Please label accordingly e.g E) instead of…

A: using CVP, Break even sales = Fixed cost / CM ratio Margin of safety = Current sales - Break even…

Q: Differentiate between letters, memo and report?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: You are the accountant for Tina's Office Supplies, a brand new company and have been given the…

A: Trial Balance is the statement that records all the assets, liabilities, stockholders' equity,…

Q: All blanks need to be filled please and thank you, it's incomplete as of now.

A: Lets understand the basics. In FOB shipping point, all cost incurred after goods shipped from the…

Q: Can you use excel to do the data please.

A: The cost of direct material used is defined as the cost attributed to the production of end…

Q: How do you make a two-dimensional columnar chart in excel?

A: The objective of this question is to create a two-dimensional columnar chart in Excel. This type of…

Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

answer in text form please (without image)

Clockwork and Watches are departments of a company called It's Time. Clockwork and
Watches are the operating departments of the company, but there are two support
departments: HR and IT.
The budgets of each of the departments are below. HR time is measured by # of employees,
and IT is measured by claim tickets.
IT
Budget $100,000
10
Employees
Claim Tickets
HR
$50,000
25
Clockworks
$500,000
50
40
Watches
$400,000
40
40
Allocate the support department costs to the operating departments using the Direct
Method.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Understanding

VIEW

Step 2: Working

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Question: 1)Accounting Information System is a option: a) manual system b) computer-cased system required: please answer this question by choosing the right option.
What are some true statements regarding the use of a worksheet?
AutoSave Off H Document2 - Word P Search (Alt+Q) Sign in File Design References Mailings Review View Help Grammarly Picture Format P Comments A Share Home Insert Draw Layout P Find - - A A Aa v A = - E - E G Times New Roman v 12 Normal No Spacing Heading 1 Replace = = 1E v Editor Open Grammarly Paste BIU I U v - 2. A - ab x, x' A . A Select v Undo Clipboard a Font Paragraph Styles Editing Editor Grammarly a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at year-end? Assets Liabilities Equity Beginning $ 200,000 = 150,000 Change 80,000 = 46,000 + Ending Page 1 of 1 O words Text Predictions: On * Accessibility: Good to go O Focus 110% 9:58 PM P Type here to search 49°F 3/20/2022 近
subject:accunting information system. Q: explainDocument flowcharts and give two examples.
What information is provided by a record layout diagram?
What is a data dictionary?
Landscape is O a. Page Layout O b. A Font Style c. Page Orientation O d. Paper Size
Please provide the introductory part and answer for question D.
Write a about memorandum message
Any help is appreciated, here is the question. https://drive.google.com/file/d/0B-AOAJtLKPhfOEJhR0RWRWtmT3BGVVljQUZaRko0Zkh2NDRr/view?usp=sharing
How do you access the Power Query interface?
How do you get a report into PDF format? Select an answer: You need to email the report and then convert it to PDF. Click on the Export button and Click on Export as PDF. You cannot export reports into PDF. You have to print the report and then scan it as a PDF.