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Perfection Body Inc. has a new promotional program that offers a free gift-wrapping service for its customers. Perfection's customer-service division has practical capacity to wrap 8,125 gifts at a budgeted fixed cost of $6,825 each month. The budgeted variable cost to gift wrap an item is $0.70. Although the service is free to customers, a gift-wrapping service cost allocation is made to the division where the item was purchased. The customer-service division reported the following for the most recent month: (Click the icon to view the actual, budgeted, and practical capacity units.) Required 1. Using the single-rate method, allocate gift-wrapping costs to different divisions in these three ways. 2. 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. 3. Comment on your results in requirements 1 and 2. Discuss the advantages of the dual-rate method. vo) - www (a) (b) (C) Allocate costs in three ways Data Table Budgeted rate per item: $ 1.70 $ 1.54 1.70 $ 3.638.00 $ Women's face wash $ 3,295.60 1,185.80 Men's face wash 4,165.00 $ 1,428.00 3,077.00 765.00 1,309.00 2,703.00 2,448,60 Division Fragrances Body wash a. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on the budgeted use (of gift-wrapping services). b. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on actual usage. c. Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage. Actual Number Budgeted Number Practical Capacity of Gifts of Gifts to Be Available for Gift- Wrapped Wrapped Wrapping 2,140 2,450 2,625 909.50 823.90 Women's face wash 2.167.50 2,405.50 2.179.10 Hair products 770 840 915 $ 11,602.50 $ 10.965.00 $ 9,933.00 Men's face wash Fragrances Body wash 1,590 1,810 1,990 Total Requirement 2. Using the dual-rate method, compute the amount allocated to variable costs are allocated using the budgeted variable-cost rate and actual 535 1,415 450 1,275 670 1,925 Print Done Hair products 6,450 6,825 8,125 Variable Fixed Total Total Rate per item: Women's face wash $ 3,556.00 Men's face wash Print Done Fragrances Body wash Hair products Total