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PLEASE MAKE SURE THE ANSWER IS ON A TABLE (JUST LIKE THE ONE SHOWN ON THE PROBLEM) Diaz Company is a retail store with two
PLEASE MAKE SURE THE ANSWER IS ON A TABLE (JUST LIKE THE ONE SHOWN ON THE PROBLEM)
Diaz Company is a retail store with two operating departments, Clothes and Shoes. Information follows. For Year Ended December 31 Clothes Shoes Sales $ 806,400 $ 453,600 Cost of goods sold 435,000 294,840 Direct expenses: Wages 118,000 85,000 Supplies used 20,000 10,700 Depreciation 16,000 12,000 The company reports the following indirect expenses for the year. Indirect Expense Amount Allocation Base Utilities $ 6,200 Square feet of space occupied Supervisor salaries 32,000 Number of employees in department Additional information about the two departments follows. Department clothes Shoes Square Footage 27,000 18,000 Number of Employees 66 44 Required: 1. Allocate indirect expenses to the two operating departments. 2. Prepare departmental income statements. Required 1 Required 2 Required 1 Required 2 Prepare departmental income statements. Allocate indirect expenses to the two operating departments. Allocation of $6,200 of utilities expense Department Square Footage Clothes DIAZ COMPANY Departmental Income Statements For Year Ended December 31 Clothes Percent of Total Cost Allocated Shoes Shoes Total Expenses Cost Allocated Allocation of $32,000 of supervisor salaries expense Employees Percent of Total Clothes Shoes Total Total expenses IncomeStep by Step Solution
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