Old MathJax webview

Old MathJax webview

need ans ASAP please

KV Accounting and Business Consultants provides a variety of consulting services to a diverse range of clients. The company has three support departments and three revenue-generating departments, whose cost details for a typical quarter are presented below. Support Departments IT Support $ 272,500 Admin Support 700,000 Facilities Support 194,850 Revenue-Generating Departments Assurance 834,300 Tax Advisory 599,000 Business Advisory 766,200 $3,366,850 The existing cost allocation system is designed as follows: (1) the support department costs are allocated to the three revenue- generating departments, and (2) the revenue-generating department costs are allocated to individual clients. The support department costs are allocated to the revenue-generating departments as follows: (1) IT Support costs are allocated to Assurance, Tax Advisory, and Business Advisory using a 30:40:30 ratio, (2) Admin Support costs are allocated using a 40:30:30 ratio, and (3) Facilities Support costs are allocated using a 40:40:20 ratio. The costs accumulated in the three revenue-generating departments are allocated to individual clients based on the professional time consumed in the respective department. The Assurance, Tax Advisory, and Business Advisory departments recorded 9,300,7,800, and 6,300 hours, respectively, for the quarter. Required: 1. Compute the predetermined cost allocation rates for the three revenue-generating departments. (Round your answers to 2 decimal Help Save & Exit Sul Required: 1. Compute the predetermined cost allocation rates for the three revenue-generating departments. (Round your answers to 2 decima places.) Predetermined Cost Allocation Rate Assurance Tax Advisory Business Advisory 2. Using the rates computed in Requirement (1) above, assign the costs to clients X and Y. Client X required 370,510 and 630 hours of professional time, respectively, in the Assurance, Tax Advisory and Business Advisory departments, whereas client Y required 630, Y 780 and 230 hours of professional time. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Client X Client Y Assurance Service Tax Advisory Service Business Advisory Service 0 TA $ 0 3. You have recently learned about activity-based costing and decide to use six activity cost pools, one for each department. The additional information you have collected is as follows: :28 Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory Cost Driver (allocation base) IT time Sales revenue Total professional time Assurance professional time Tax advisory professional time Business advisory professional time Allocation Base Quantity 15,450 hours $ 69.44 million 22,920 hours 9,300 hours 7,800 hours 6,300 hours Save & Exit Submit Compute the predetermined allocation rate for each activity cost pool. (Round your answers to 2 decimal places.) Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory Activity Rate per IT support hour % of sales revenue per hour of professional time per hour of assurance professional time per hour of tax advisory professional time per hour of business advisory professional time 4. In addition to the Assurance, Tax Advisory, and Business Advisory time specified in Requirement (2) above, the two clients consumed the following additional resources: Resource IT time (hours) Sales revenue Client X 380 $1,448, 100 client Y 180 $965,400 Help Sove & Exit Submit 4. In addition to the Assurance, Tax Advisory, and Business Advisory time specified in Requirement (2) above, the two clients consumed the following additional resources: Resource IT time (hours) Sales revenue Client X 380 $1,448, 100 Client Y 180 $965,400 Assign the costs to the two clients using activity-based costing. (Round intermediate calculations to 2 decim places and final answers to the nearest dollar amount.) Client X Client Y IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory 0 $ 0 Saved Help Save & Exit Submit 3. You have recently learned about activity-based costing and decide to use six activity cost pools, one for each department. The additional information you have collected is as follows: Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory Cost Driver (allocation base) IT time Sales revenue Total professional time Assurance professional time Tax advisory professional time Business advisory professional time Allocation Base Quantity 15,450 hours $ 69.44 million 22,920 hours 9,300 hours 7,800 hours 6,300 hours Compute the predetermined allocation rate for each activity cost pool. (Round your answers to 2 decimal places.) Activity Rate per IT support hour % of sales revenue Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory per hour of professional time per hour of assurance professional time per hour of tax advisory professional time per hour of business advisory professional time 4. In addition to the Assurance, Tax Advisory, and Business Advisory time specified in Requirement (2) above, the two clients consumed the following additional resources: Resource IT time (hours) Sales revenue Client X 380 $1,448,100 Client Y 180 $965,400 Assign the costs to the two clients using activity-based costing. (Round intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Client X Client Y IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory 0 $ 0 Saved Help Save & Exit 3. You have recently learned about activity-based costing and decide to use six activity cost pools, one for each department. The additional information you have collected is as follows: Su Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory Cost Driver (allocation base) IT time Sales revenue Total professional time Assurance professional time Tax advisory professional time Business advisory professional time Allocation Base Quantity 15,450 hours $ 69.44 million 22,920 hours 9,300 hours 7,800 hours 6,300 hours Compute the predetermined allocation rate for each activity cost pool. (Round your answers to 2 decimal places.) Activity Rate per IT support hour % of sales revenue Activity Cost Pool IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory per hour of professional time per hour of assurance professional time per hour of tax advisory professional time per hour of business advisory professional time Sove 2 Exit Submit 4. In addition to the Assurance, Tax Advisory, and Business Advisory time specified in Requirement (2) above, the two clients consumed the following additional resources: Resource IT time (hours) Sales revenue Client X 380 $1,448,100 Client Y 180 $965,400 Assign the costs to the two clients using activity-based costing. (Round intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Client X Client Y IT Support Admin Support Facilities Support Assurance Tax Advisory Business Advisory $ 0 $ 0