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. Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two operatingdepartments, Publishing and Binding. Management has decided to allocate IT costs on the basis of IT Tickets (issued with each ITrequest) in each department and HR costs on the basis of employees in each department.The following data appear in the company records for the current period:IT ticketsEmployeesDepartment direct costsa. The order of allocation starts with IT.b. The order of allocation starts with HR.Required ARequired:Use the step method to allocate the service costs, using the following:Required BFrom:Service department costsHRTotal costs016$ 154,000Complete this question by entering your answers in the tabs below.$IT$HRIT154,000(154,000)1,5000$ 264,600Use the step method to allocate the service costs, using the following:The order of allocation starts with IT.Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations.0X Answer is complete but not entirely correct.Publishing1,50024$ 430,000$Cost Allocation To:HR$ 264,60030,800400)0Binding4,50040$ 390,000BindingPublishing$430,000 $ 390,000$ 30,800 $110,77592,400184,625$ 571,575$ 667,025

The costs are allocated among departments using various methods. The different methods for cost…

Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two operating departments, Publishing and Binding. Management has decided to allocate IT costs on the basis of IT Tickets (issued with each IT request) in each department and HR costs on the basis of employees in each department. The following data appear in the company records for the current period: IT tickets Employees Department direct costs IT a. The order of allocation starts with IT. b. The order of allocation starts with HR. 0 16 $ 154,000 HR 1,500 0 $ 264,600 Publishing 1,500 24 $430,000 Required: Use the step method to allocate the service costs, using the following: Binding 4,500 40 $ 390,000

Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two operating departments, Publishing and Binding. Management has decided to allocate IT costs on the basis of IT Tickets (issued with each IT request) in each department and HR costs on the basis of employees in each department. The following data appear in the company records for the current period: IT tickets Employees Department direct costs IT a. The order of allocation starts with IT. b. The order of allocation starts with HR. 0 16 $ 154,000 HR 1,500 0 $ 264,600 Publishing 1,500 24 $430,000 Required: Use the step method to allocate the service costs, using the following: Binding 4,500 40 $ 390,000

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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