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Selected financial data, as of December 31, 2019, for Fancy Fashion, a discount retail store, follows. Credit sales Womens clothing $ 700,000 Mens clothing $
Selected financial data, as of December 31, 2019, for Fancy Fashion, a discount retail store, follows.
Credit sales | |||
Womens clothing | $ | 700,000 | |
Mens clothing | $ | 260,000 | |
Total sales | |||
Womens clothing | $ | 950,000 | |
Mens clothing | $ | 300,000 | |
Sales returns and allowances | |||
Womens clothing | |||
Credit sales | $ | 8,000 | |
Cash sales | $ | 600 | |
Mens clothing | |||
Credit sales | $ | 2,000 | |
Cash sales | $ | 600 | |
Book value of inventory and equipment | |||
Womens clothing | $ | 150,000 | |
Mens clothing | $ | 50,000 | |
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The total office expense for the year at Fancy Fashion was $80,000. Compute the amount to be allocated to each department using total sales as the basis for the allocation. (Round your "Percent" answers to the nearest whole number.)
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