Answer the last 2 questions only **Cost Allocation Exercise**A company has two service departments (S1 and S2) and two manufacturing divisions (M1 and M2). The following information is available:- **Costs Incurred:** - Service Department S1: $200,000 - Service Department S2: $500,000- **Percent Allocable to:** - From S1: - S2: 20% - M1: 30% - M2: 50% - From S2: - S1: 50% - M1: 20% - M2: 30%**Questions:**1. Using the direct method, what proportion of S1’s costs will be allocated to M2? a. 20% b. 37.5% c. 50% d. 62.5%2. Using the direct method, how much of the service department costs will be allocated to M1? a. $195,250 b. $205,750 c. $308,750 d. $326,4503. Using the step method, how much of the service department costs will be allocated to M1? a. $243,000 b. $265,700 c. $295,400 d. $302,5004. Using the reciprocal method, how should the total service department costs of S1 be expressed? a. S1 = $290,000 + 0.5 × S2 b. S1 = $290,000 + 0.2 × S2 c. S1 = $290,000 + 0.3 × S2 d. S1 = $500,000 + 0.5 × S25. Using the reciprocal method, how much of the service department costs will be allocated to M1? a. $241,000 b. $286,000 c. $304,000 d. $403,000This exercise involves three methods of cost allocation: the direct method, the step method, and the reciprocal method, each used to determine how costs from service departments are allocated to manufacturing divisions. Understanding these methods is crucial for accurate financial analysis and decision

The overhead costs are indirect costs which are incurred not only in production departments but also…

Use the following information to answer questions 2 through 6: A company has two service departments (S1 and 52) and two manufacturing divisions (M1 and M2). The following information is available. Percent Allocable to Costs Service Incurred Department $200,000 $1 500,000 S2 $1 50% 2. Using the direct method, what proportion of S1's costs will be allocated to M2? a 20% b. 37.5% C. 50% d. 62.5% S2 20% M1 30% 20% urse 10 M2 50% 30%

Use the following information to answer questions 2 through 6: A company has two service departments (S1 and 52) and two manufacturing divisions (M1 and M2). The following information is available. Percent Allocable to Costs Service Incurred Department $200,000 $1 500,000 S2 $1 50% 2. Using the direct method, what proportion of S1's costs will be allocated to M2? a 20% b. 37.5% C. 50% d. 62.5% S2 20% M1 30% 20% urse 10 M2 50% 30%

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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Online teachin x n/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%3false еВook Discussion Question 13-6 (LO. 4) On July 16, 2020, Logan acquires land and a building for $500,000 to use in his sole proprietorship. Of the purchase price, $400,000 is allocated to the building, and $100,000 is allocated to the land. Cost recovery of $4,708 is deducted in 2020 for the building (nonresidential real estate). a. What is the adjusted basis for the land and the building at the acquisition date? Land Building b. What is the adjusted basis for the land and the building at the end of 2020? Land Building $ 40 Previous Next Check My Work 10:57 PM 28°F Clear 2/14/2022
Your answers are incorrect, there are at least 4 blanks to fill in and you only provided 2 or 3. Also please do not use Excel, please use another way to show your work.
Using formulas, no tables, correct answer= 6,962.6, can you try again?
Find the sum of the terms: 26 O 74.23 69.38 O 71.12 O 70.29 O 72.97 (1+0.04)² + 26 (1 +0.04)³ 26 (1+0.04)4 (Round intermediate calculations to 5 decimal places, e.g. 5.27525 and your final answer to 2 decimal places, e.g. 52.75.)
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Please read the first picutre, and answer on the second picture. thanks for your time