Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using

image text in transcribed
image text in transcribed
image text in transcribed
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Salaries Depreciation Advertising Total $45,000 31,000 65,000 Allocation Basis Number of employees Cost of goods sold Net sales Ite Number of employees Net sales Cost of goods sold Drilling Grinding Total 1,000 1,500 2,500 $376,000 $564,000 $940,000 $129,200 $210, see $340,000 The amount of the advertising cost that should be allocated to Grinding for the current period is Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period Office Expenses Salaries Depreciation Advertising Total $50,000 34,000 68,000 Allocation Basis Number of employees Cost of goods sold Net sales Item Number of employees Net sales Cost of goods sold Drilling Grinding Total 1,880 2,700 4,500 $388,000 $582,000 $970,000 $140,600 $229,400 $370,000 The amount of salaries that should be allocated to Drilling for the current period is: 12 Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period Office Expenses Salaries Depreciation Advertising Total $46,000 27,eee 61,000 Allocation Basis Number of employees Cost of goods sold Net sales Item Number of employees Net sales Cost of goods sold Drilling Grinding Total 1,200 1,800 3,000 $360,000 $540,000 $900,000 $114,000 $186,000 $300,000 The amount of the advertising cost that should be allocated to Drilling for the current period is

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_2

Step: 3

blur-text-image_3

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

Information Technologies In Accounting And Auditing A Post-Soviet Approach

Authors: Sergiy Ivakhnenkov

1st Edition

3639285395, 978-3639285390

More Books

Students also viewed these Accounting questions