Need help with this accounting questions Summit Technologies Corporation (STC) has 85 employees, 45 of whomare assigned to Division X and 40 to Division Y. STC incurred $425,000 offringe benefits cost during 2023. Required: Determine the amount of thefringe benefits cost to be allocated to Division X and to Division Y.

Step 1: Definition of Fringe Benefits AllocationFringe benefits allocation refers to the…

Answered: Summit Technologies Corporation (STC)…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 26E

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Summit Technologies Corporation (STC) has 85 employees, 45 of whom are assigned to Division X and 40 to Division Y. STC incurred $425,000 of fringe benefits cost during 2023. Required: Determine the amount of the fringe benefits cost to be allocated to Division X and to Division Y.