Question Help Elegance Department Store has a new promotional program that offers a free gif-wrapping service for its customers. Elegance's customer-service department has practical capacity to wrap 8,125 gifts at a budgeted foxed cost of $6,825 each month. The budgeted variable cost to gift wrap an item is $0.25. During the most recent month, the department budgeted to wrap 6,825 gits Athough 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 Data Table Requirement 1. Using the single-rate method, allocate git-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 Actual tems (a) Department Items Wrapped Wrapped Budgeted rate per item Giftware 2,490 2,020 Women's Apparel 805 760 Giftware Fragrances 1,810 1,555 Women's Apparel Men's Apparel 455 540 Fragrances 1,265 Domestics 1,175 Men's Apparel 6.050 6,825 Total Domestios Tolal Print Done Enter any number in the edit fieids and then clck Check Answer Requirements Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways. 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). Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on actual usage. Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage. Using the dual-rate method, compute the amount allocated to each department when (a) the fixed-cost rate is calcu lated using budgeted costs and the practical gift-wrapping capacity, (b) fixed costs are allocated based on budgeted usage of gift-wrapping services, and (c) variable costs are allocated using the budgeted variable-cost rate and actual usage. 1. . b. . 2. 3. Comment on your results in requirements 1 and 2. Discuss the advantages of the dual-rate method. Done Print