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Question 5 Spectra Company has two service departments and two operating departments. Budgeted costs and budgeted activity in the various departments for the current year are shown below: Service Departments Operating Departments Cafeteria Custodial Milling Finishing Departmental cost Tk. 126,000 Tk. 70,000 Tk. 300,000 Tk. 500.000 Square feet occupied 1.000 2,000 8,000 24,000 Number of employees 20 100 150 200 Machine hours 80,000 20,000 Labor hours 10,000 40,000 The company allocates cafeteria department costs first on the basis of number of employees and then custodial services costs on the basis of square fect of space occupied. Required: (i) Allocate service department costs to operating departments by the step-down method. Then conpute predetermined overhead rates in the operating departments, using a machine-hours basis in Milling and a labour-hours basis in Finishing. (ii) Repeat (a) above, this time using the direct method. Again, compute predetermined overhead rates in the operating departments, using a machine-hours basis in Milling and a labour-hours basis in Finishing. (iii) Assume that company doesn't bother with allocating service department costs but simply computes a single planl-wide overhead based on total overhead costs (both service department and operating department costs) divided by total machine hours. Compute the plant-wide overhead rate. (iv) Suppose a job requires machine and labor time as follows: Machine-llour's Labor-Hours Milling Department 380 50 Finishing Departinent 20 150 Total Hours 400 200 Using the overhead rates computed in (i), (ii), and (iii) above, compute the amount of overhead cost that would be assigned to the job if the overhead rates were developed using the step method. direct method, and the plant-wide method. (v) Explain to the management why the step-down method provides a better basis for computing predctermined overhead rates than the other methods