Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost allocation is often the centerplece of conflict that is resolved in court cases. The litigation usually involves the dispute over how costs are allocated

image text in transcribed
Cost allocation is often the centerplece of conflict that is resolved in court cases. The litigation usually involves the dispute over how costs are allocated to a product or product line that is of interest to the plaintiff. This is particularly an issue when a company produces some products or services for a price-competitive market while other products or services are produced for a governmental unit on a cost-plus or reimbursement basis. Nursing Care incorporated, or NCl, operates both a small nursing home and a retirement home. There is a single kitchen used to provide meals to both the nursing home and retirement home, meaning labor costs and utilies costs of the kitchen are shared by the two homes. There is aiso a centralized cleaning department that provides the cleaning services for both homes as well as the kitchen. The nursing home serves only indigent patients who are on Medicaid. The state Department of Health and Family Services (DHFS) reimburses NCl at Medicaid-approved cost reimbursement rates. The Medicaid reimbursement rates are based on cost information supplied by NCl. The relevant cost and allocation data for the most recent year appear in the following table. Required: 1. Management of NCl currently allocates the kitchen and cleaning department costs based on the number of residents in each home Determine the amount of service department costs assigned to each of the homes using this allocation base. 2. DHFS auditors believe the step method of allocation should be used by first assigning cleaning costs based on square feet and then kitchen costs based on number of residents. Determine the amount of service department costs assigned to each of the homes using this allocation method. (Do not round percentages in your calculations.)

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

Total Quality Safety Management And Auditing

Authors: Michael B. Weinstein

1st Edition

1566702836, 978-1566702836

More Books

Students also viewed these Accounting questions