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Course Hero | Make every stud X WileyPLUS X + C edugen.wileyplus.com/edugen/Iti/main.uni j . . . WileyPLUS Jiambalvo, Managerial Accounting, 6e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES The Beca Company manufactures and ships children's stuffed animals across the nation. The following are profit statements for the company's two lines of business: Chapter 6 Assignment Stock Custom Problem Stuffed Submission) Stuffed Animals Animals Sales $6,882,000 $4,588,000 Review Score Less direct costs 2,270,000 4,230,000 Review Results by Study Less allocated costs 3,470,000 1,170,000 Objective Income (loss) before taxes $1,142,000 $(812,000) s that are easily associated with each line of business are included in the direct costs. Allocated costs include costs that are not directly traced to the business units. These costs include employee benefits, rent, telecommunications costs, and general and administrative costs, such as the salary of the CEO of Beca. At the start of 2017, allocated costs were estimated as follows: Employee benefits $1,350,000 Rent 1,470,000 Telecommunications 471,000 General and administrative costs 1,349,000 Total $4,640,000 In the past, allocations have been based on headcount (the number of employees in each business unit). There were 255 employees in Stock and 85 employees in Custom. The new controller of Beca believes that the key driver of employee benefits and telecommunications costs is headcount. However, rent is driven by space occupied, and general and administrative costs are driven by relative sales. Beca rents 20,000 square feet; approximately 10,000 is occupied by Stock employees and 10,000 by Custom personnel. (a) Prepare profit reports for Stock and Custom, assuming the company allocates costs using headcount, space occupied, and sales as allocation bases. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Stock Stuffed Custom Stuffed v $ V: Click if you would like to Show Work for this question: Open Show Work