Preston Department Store has a new promotional program that offers a free gif wapping service for its customers Pestors ontomer service department has practical capacity to wrap 5,000 gms at a budgetded cost of $4950 month The budgeted vanable cost to gift wrap an item is $0.35 During the most recent month, the department bugeted to weap 4500 gfs Athough the service is thee to customers a gift wrapping service cus allocation is made to the department where the tom was purchased The customer service department reported the following for the most recent mont (Click the icon to vew the actual and budgeted units) Read the reaartments Requirement 1. Using the single-rite method allocate gift-wrapping costs to different departments in these Start with allocating (a), then (b), and finally (c) (Round all of your answers to the nearest cent Budged rate per tem Gwar Women's Apparel Fragrances Men's Appa Domestic Total Data table Department Budgeted Items Wrapped Actual Wrapped 2 Giftware 1000 1200 Women's Apparel 450 Fragrances 1.000 900 150 450 Men's Apparel too 000 Domestic 4,500 4,00 Total Print Done text pages Requirement 1. Using 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 cent.) Budgeted rate per item Giftware Women's Apparel Fragrances Men's Apparel Domestics Total Get more help - (a) Requirements - X 1. Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways 3. 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 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) vanable 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. Preston Department Store has a new promotional program that offers a free gift wrapping service for its customers Prestor's customer service department has practical capacity to wrap 5,000 gs at a tetgeted fixed coet of $4,160 gach month. The budgeted variable cost to gift wrap an item is $0 35 During the most recent month, the department budgeted to wrap 4,500 gifts Although the service is free to customers, a gt wrappy service cost allocation 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 resuirements Requirement 1. Uhung the single-rate method, allocate gift wrapping costs to different departments in these w Start with allocating (a), then (b), and finally (c) (Round all of your answers to the nearest cent) Budgeted rate per item Giftware Women's Apparel Fragrances Men's Apparel Domestics Total (a) Data table 1 Department Budgeted hems Wrapped Actual Items Wrapped 2 Giftware 1,000 1,200 3 Women's Apparel 850 650 1,000 000 4 Fragrances 5 Men's Apparel 750 450 6 Domestics 500 100 4.500 4,000 7 Total X Preston Department Store has a new promotional program that offers a free gift-wrapping service for its customers. Preston's customer-service department has practical capacity to wrap 5,000 gifts at a budgeted fixed cost of $4,950 each month. The budgeted variable cost to gift wrap an item is $0.35. During the most recent month, the department budgeted to wrap 4,500 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 requirements Requirement 1. Using 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 cent.) Budgeted rate per item Giftware (a) Women's Apparel Fragrances Men's Apparel Domestics Total