The following information is departmental cost allocation with two service departments and two production departments Percentage Service Provided to Department Service 1 (51) Service 2 (52)) Production 1 (P1) Production 2 (P2) Cost $ 34,000 24,000 140,000 190,000 51 ex 25 52. P1 P2 30% 35% 35% 0 30 45 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first?

The following information is departmental cost allocation with two service departments and two production departments Percentage Service Provided to Department Service 1 (51) Service 2 (52)) Production 1 (P1) Production 2 (P2) Cost $ 34,000 24,000 140,000 190,000 51 ex 25 52. P1 P2 30% 35% 35% 0 30 45 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first?

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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Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

Note:- • Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. • Answer completely. • You will get up vote for sure.

The following information is departmental cost allocation with two service departments and two production departments
Percentage Service
Provided to
Department
Service 1 (51)
Service 2 (52)
Production 1 (P1)
Production 2 (P2)
Cost
$ 34,000
Service Department Cost Allocation
Total Cost
24,000
140,000
190,000
51
P1
ex
25.
What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method
with S1 going first?
$2 P1 P2
30% 35X 35%
0
30
45
P2
4

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