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Beauty Department Store has a new promotional program that offers a free gift wrapping service for its customers. Beauty's customer service department has practical capacity to wrap 9,125 gifts at a budgeted fixed cost of $8,825 each month. The budgeted variable cost to gift wrap an item is S0.25. During the most recent month, the department budgeted to wrap 6,925 gifts. Although the service is free to customers, a gift-wrapping service cost allocation is made to the department where the item was purchased. The customer service department reported the following for the most recent month: (Click the icon to view the actual and budgeted units) Read the recuirments. * Allocate costs in three ways. Requirement 1. Usirg the single-rate method, allocate gift-wrapping costs to different departments in these three ways. Start with allocating (a), then (b), and finally (c). (Round all of your answers to the nearest cant) a) Budgeted rate per Item: i Requirements b. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocale costs based on the budgeleeuse (of gift-wrapping services) Calculate the budgeted rate based on the budgeted number of gits to be wrapped and allocate costs based on actual usage. Calculate the budgeted rate based on the practical gift-wrapoing capacity avalable and Allocato costs based on Achal USAGA c. Giftware Women's Apparel Fragranos Meria Apparel Domestica Total Print Done Using the single-rate method, alocale gift-wrapping costs to different departments in these three ways. a. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocata costs based on the budgeted use of gift-wrapping SARVICES 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 capac ly available and allocale usls based on actual usage. Using the dual-rate method, compute the amount allocated to each department when la the fixed-cost rate is calculated using budgeted costs and the practical gift-arepoing capacity b) forced coats are allocated based on budgeted usage of gift-wrapping services, and icl variable costs are alocated using the budgeted variable-cost rate and actual usage. Comment on your results in requirements 1 and 2 Discuss the advantages at the dual-rata mathad. i Data Table 3. Department 2 Giftware 3 Women's Apparel Budgeted Items Wrapped 2,455 810 1,820 445 1,295 Actual items Wrapped 2,180 7 90 1,585 530 Done 4 Fragrance 5 Men's Apparel 6 Domestic 7 Total Beauty Department Store has a new promotional program that offers a free gift wrapping service for its customers. Beauty's customer service department has practical capacity to wrap 9,125 gifts at a budgeted fixed cost of $8,825 each month. The budgeted variable cost to gift wrap an item is S0.25. During the most recent month, the department budgeted to wrap 6,925 gifts. Although the service is free to customers, a gift-wrapping service cost allocation is made to the department where the item was purchased. The customer service department reported the following for the most recent month: (Click the icon to view the actual and budgeted units) Read the recuirments. * Allocate costs in three ways. Requirement 1. Usirg the single-rate method, allocate gift-wrapping costs to different departments in these three ways. Start with allocating (a), then (b), and finally (c). (Round all of your answers to the nearest cant) a) Budgeted rate per Item: i Requirements b. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocale costs based on the budgeleeuse (of gift-wrapping services) Calculate the budgeted rate based on the budgeted number of gits to be wrapped and allocate costs based on actual usage. Calculate the budgeted rate based on the practical gift-wrapoing capacity avalable and Allocato costs based on Achal USAGA c. Giftware Women's Apparel Fragranos Meria Apparel Domestica Total Print Done Using the single-rate method, alocale gift-wrapping costs to different departments in these three ways. a. Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocata costs based on the budgeted use of gift-wrapping SARVICES 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 capac ly available and allocale usls based on actual usage. Using the dual-rate method, compute the amount allocated to each department when la the fixed-cost rate is calculated using budgeted costs and the practical gift-arepoing capacity b) forced coats are allocated based on budgeted usage of gift-wrapping services, and icl variable costs are alocated using the budgeted variable-cost rate and actual usage. Comment on your results in requirements 1 and 2 Discuss the advantages at the dual-rata mathad. i Data Table 3. Department 2 Giftware 3 Women's Apparel Budgeted Items Wrapped 2,455 810 1,820 445 1,295 Actual items Wrapped 2,180 7 90 1,585 530 Done 4 Fragrance 5 Men's Apparel 6 Domestic 7 Total
