16 of 23 (0 complete) i Requirements Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways a. Calculate the budgeted rate based on the budgeted number of gifts to be 1. wrapped and allocate costs based on the budgeted use (of gift-wrapping services). Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on actual usage. b. Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage. c. Using the dual-rate method, compute the amount allocated to each department when (a) the fixed-cost rate is calculated using budgeted costs and the practical gift-wrapping capacity, (b) fixed costs are allocated based on budgeted usage of gift-wrapping services, and (c) variable costs are allocated using the budgeted variable-cost rate and actual usage. 2. 3. Comment on your results in requirements 1 and 2. Discuss the advantages of the dual-rate method. Print Done Read the r Requirement 1. Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways. Start with allocating (a), then (b), and finally (c). (Round all of your answers to the nearest cent.) Budgeted rate per item: Giftware Women's Apparel Fragrances Men's Apparel Domestics Total Requirement 2. Using the dual-rate method, compute the amount allocated to each department when (a) the fixed-cost rade'is calculated using the practical gift-wrapping capacity, (b) fixed costs are allocated based on budgeted usage of gift-wrapping services, and (c) variable costs are allocated using th budgeted variable-cost rate and actual usage. (Round all of your answers to the nearest cent.) budgeted cost s a Variable Fixed Total Women's Apparel [ ] Fragrances Men's Apparel Domestics 16 of 23 (0 complete) i Requirements Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways a. Calculate the budgeted rate based on the budgeted number of gifts to be 1. wrapped and allocate costs based on the budgeted use (of gift-wrapping services). Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on actual usage. b. Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage. c. Using the dual-rate method, compute the amount allocated to each department when (a) the fixed-cost rate is calculated using budgeted costs and the practical gift-wrapping capacity, (b) fixed costs are allocated based on budgeted usage of gift-wrapping services, and (c) variable costs are allocated using the budgeted variable-cost rate and actual usage. 2. 3. Comment on your results in requirements 1 and 2. Discuss the advantages of the dual-rate method. Print Done Read the r Requirement 1. Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways. Start with allocating (a), then (b), and finally (c). (Round all of your answers to the nearest cent.) Budgeted rate per item: Giftware Women's Apparel Fragrances Men's Apparel Domestics Total Requirement 2. Using the dual-rate method, compute the amount allocated to each department when (a) the fixed-cost rade'is calculated using the practical gift-wrapping capacity, (b) fixed costs are allocated based on budgeted usage of gift-wrapping services, and (c) variable costs are allocated using th budgeted variable-cost rate and actual usage. (Round all of your answers to the nearest cent.) budgeted cost s a Variable Fixed Total Women's Apparel [ ] Fragrances Men's Apparel Domestics