Question
A retailer pays $130,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Square
A retailer pays $130,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department
Square feet occupied Jewelry 1,440 (first-floor)
Cosmetics 3,360 (first-floor) Department Square feet occupied
Housewares 2,016 (second-floor)
Tools 960 (second-floor)
Shoes 1,824 (second-floor)
The company allocates $84,500 of total rent expense to the first floor and $45,500 to the second floor. It then allocates rent expense for each floor to the departments on that floor based on square feet occupied. Determine the rent expense to be allocated to each department.
Must contain the formula to input into excel please
\\begin{tabular}{|l|l|l|l|l|||||} \\hline & \\\\ \\hline \\multicolumn{1}{|c|}{ Required: } \\\\ Determine the rent expense to be allocated to each department. \\\\ \\hline \\multicolumn{1}{|c|}{ First Floor } & Square Feet & Percent of Total & Cost Allocated \\\\ \\hline Jewelry Department \\\\ \\hline Cosmetics Department \\end{tabular}
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