### Allocation Model InstructionsUse the following data to prepare a model that allocates the support departments using three methods: direct, sequential, and reciprocal. Follow these instructions carefully:1. **Design Requirements** Your model should include: - An input section - An output section - User instructions2. **Output Section Guidelines** Ensure the output section contains only references and formulas.3. **Sequential Method** Allocate the support department with the highest cost first.4. **Reciprocal Method** Calculate reciprocal amounts using Excel formulas or iterative equations. Do not manually input these amounts.### Cost and Allocation Data#### Departments| | **Support Departments** | | **Producing Departments** | ||------------------------|-------------------------|-------------------|---------------------------|----------|| **Departments** | General Factory | Receiving | Assembly | Finishing || **Direct Overhead** | $325,000 | $160,000 | $45,000 | $72,000 || **Square Footage** | - | - | 5,300 | 4,700 || **# of Receiving Orders** | 300 | - | 1,650 | 2,050 |- **General Factory** has a direct overhead of $325,000.- **Receiving** has a direct overhead of $160,000.- **Assembly** and **Finishing** are producing departments with direct overheads of $45,000 and $72,000, respectively.- The square footage associated with Assembly and Finishing is 5,300 and 4,700.- The number of receiving orders for General Factory, Assembly, and Finishing are 300, 1,650, and 2,050, respectively.

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Use the following data to prepare a model that allocates the support departments using the three methods (direct, sequential, and reciprocal). Pay attention to the following instructions: 1. You should design your model to include an input section, an output section, and user instructions. 2. The output section should have nothing but references and formulas in it. 3. For the sequential method, allocate the support department with the highest cost first. 4. For the reciprocal method, either calculate the reciprocal amounts using a formula in Excel or use iterative equations to calculate the amounts. Do NOT type the amounts in. Support Departments Producing Departments Assembly $45,000 5,300 General Factory $325,000 Receiving $160,000 3,400 Finishing $72,000 4,700 Departments Direct Overhead Square Footage # of Receiving Orders 300 1,650 2,050

Use the following data to prepare a model that allocates the support departments using the three methods (direct, sequential, and reciprocal). Pay attention to the following instructions: 1. You should design your model to include an input section, an output section, and user instructions. 2. The output section should have nothing but references and formulas in it. 3. For the sequential method, allocate the support department with the highest cost first. 4. For the reciprocal method, either calculate the reciprocal amounts using a formula in Excel or use iterative equations to calculate the amounts. Do NOT type the amounts in. Support Departments Producing Departments Assembly $45,000 5,300 General Factory $325,000 Receiving $160,000 3,400 Finishing $72,000 4,700 Departments Direct Overhead Square Footage # of Receiving Orders 300 1,650 2,050

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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