Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 Party.com Man 200 of 100 Beggestion Assigning Traceable Fixed Expenses Selected data for Miller Company, which operates three departments, follow Department A Department Department

image text in transcribed
image text in transcribed
1 Party.com Man 200 of 100 Beggestion Assigning Traceable Fixed Expenses Selected data for Miller Company, which operates three departments, follow Department A Department Department 530000 5200.000 1112000 5720000 3552.000 Payroll 500.000 5.360.000 3135.000 18.000 5.000 During the year, the company's fixed expensesinduded the following 110,000 1.100 273000 Asume that the property tax rates the same for both inventory and equpment using the most constated bases prepare a schedule assgrung the fived expenses to the the departments Hit No deves traceable to the three desartients. One of these twed costs should be comidered a common cost and nice traceable to the department Do not rund um your final Round finalwer to the nearest whole number DeA Bare Department o Typen O 21 AM 1/14 8 Return to course SL Question 1 Partially correct Mark 2.00 out of 8.00 Flag question Assigning Traceable Fixed Expenses Selected data for Miller Company, which operates three departments, follow. Department A Department Department Inventory $80,000 5288,000 $112.000 Equipment (average cost) $720,000 $432.000 5288,000 Payroll 5405,000 5360,000 $135,000 Square feet of floor space 18,000 9.000 3.000 During the year, the company's fixed expenses included the following Depreciation on equipment 5140,000 Real estate taxes 48,000 Personal property taxes on inventory and equipment) 28.800 Personnel department expenses 225.000 Assume that the property tax rate is the same for both inventory and equipment Using the most catisally related bases, prepare a schedule assigning the forede all fixed expenses are traceable to the three departments. One of these fixed costs should be considered a common cost and not traceable to the departments Do not round until your final answer. Round final answer to the nearest whole number Department Department Department Depreciation 160.000 X 1 160.000 K Real estate taxes O Personal property taxes 0 Persoane det senes $ 14.400 X O 0 0 C Type here to search O

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Remote Auditing A Quick And Easy Guide For Management System Auditors

Authors: Denise Robitaille

1st Edition

1932828311, 978-1932828313

More Books

Students also viewed these Accounting questions