A retailer pays $170,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Jewelry Cosmetics Department Housewares Tools Shoes Square feet occupied 1,410 (first-floor) 3,290 (first-floor) Square feet occupied 2,115 (second-floor) 893 (second-floor) 1,692 (second-floor)
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- A retailer pays $150,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Jewelry Cosmetics Department Housewares Tools Shoes First Floor Jewelry Department Cosmetics Department Totals The company allocates $97,500 of total rent expense to the first floor and $52,500 to the second floor. It then allocates rent expense for each floor to the departments on that floor based on square feet occupied. Determine the rent expense to be allocated to each department. Second Floor Housewares Department Square feet occupied 1,610 (first-floor) 2,990 (first-floor) Tools Department Shoes Department Totals Square feet occupied 2,070 (second-floor) 828 (second-floor 1,702 (second-floor) Square Feet 1.610 INN 2,990 14,600 Square Feet (1 2,070 828 1,702 14.600 Percent of Total % % HIIH 0% Percent of Total LLL % % % 0 % 201 Cost Allocated $ Cost Allocated 51 2012 277A retailer pays $190,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Jewelry Cosmetics Department Housewares Tools Shoes First Floor Jewelry Department Cosmetics Department Totals Square feet occupied. 1,760 (first-floor) 2,640 (first-floor) The company allocates $123,500 of total rent expense to the first floor and $66,500 to the second floor. It then allocates rent expense for each floor to the departments on that floor based on square feet occupied. Second Floor Housewares Department Square feet occupied 1,948 (second-floor) Determine the rent expense to be allocated to each department. Allocate these portions of total rent expense across the departments occupying each floor. Square Feet Tools Department Shoes Department Totals 880 (second-floor) 1,672 (second-floor) 0 Square Feet 0 Percent of Total % 0% Percent of Total % % % 0% Cost Allocated S Cost Allocated $ 0A retailer pays $140,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Jewelry Cosmetics Department Housewares Tools Shoes First Floor Jewelry Department Cosmetics Department Totals The company allocates $84,000 of total rent expense to the first floor and $56,000 to the second floor. It then allocates rent expense for each floor to the departments on that floor based on square feet occupied. Determine the rent expense to be allocated to each department. Second Floor Housewares Department Square feet occupied 1,610 (first-floor) 2,990 (first-floor) Tools Department Shoes Department Totals Square feet occupied 1,932 (second-floor) 690 (second-floor) 1,978 (second-floor) Square Feet Square Feet 0 0 Percent of Total % % 0% Percent of Total % % 0 % Cost Allocated $ Cost Allocated $ 0 0
- A retailer pays $120,000 rent each year for its two-story building. Space in this building is occupied by five departments as shown here. Department Jewelry Cosmetics Department Housewares Tools Shoes The company allocates $78,000 of total rent expense to the first floor and $42,000 to the second floor. It then allocates rent expense for each floor to the departments on that floor based on square feet occupied. First Floor Jewelry Department Cosmetics Department Totals Square feet occupied 1,750 (first-floor) 3,250 (first-floor) Determine the rent expense to be allocated to each department. Allocate these portions of total rent expense across the departments occupying each floor. Square Feet Second Floor Housewares Department Square feet occupied 2,200 (second-floor) 950 (second-floor) 1,850 (second-floor) Tools Department Shoes Department Totals Square Feet 0 0 Percent of Total % % 0% Percent of Total Cost Allocated $ Cost Allocated % % % 0% S 0 0A retailer allocates $196,000 of total annual rent expense to its four departments in a two-story building: $118,000 is allocated to first floor departments and $78,000 to second floor departments. Each floor's rent is then allocated to departments based on square feet occupied. Department Square Feet Occupied 2,280 1,520 2,660 1,140 A 8 C D Allocate rent expense to each department. Square Feet First Floor Department A Department B Totals Second Floor Department C Department D Totals Square Feet Floor First First Second Second Percent of Total Percent of Total % % % Cost Allocated Cost AllocatedLalia rents 110,000 square feet of store space for $358,000 per year. The amount of square footage by department is shown below: Department A 45,000 square feet Department B 30,000 square feet Department C 18,000 square feet Department D 17,000 square feet Help allocate the annual rent expense among the four departments on the basis of relative square feet of floor space occupied.
- A retailer pays $130,000 rent each year for its two-story building. The space in this building is occupied by five departments as specified here.A company rents a building with a total of 80,000 square feet, which are evenly divided between two floors. The total monthly rent for the building is $75,000. The company allocates $50,000 of total rent expense to the first floor and $25,000 of total rent expense to the second floor. How much of the monthly rental expense should be allocated to a department that occupies 16,000 square feet on the first floor?XYZ owns a branch in New York. During the year, the home office shipped to the branch supplies costing P120,000 at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: Beg Inventory, P90,000 Ending inventory P108,000. On December 31, the home office holds inventories of P160,500 which included P10,500 held on consignment. Both locations use the periodic inventory method. Compute for the inventories in a combined Statement of Financial Position as of December 31.
- Clara Co. owns a branch in New York City. During the year, the home office shipped to the branch supplies costing 12,000USD at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: Beginning Inventory 9,000USD Ending inventory 10,800USD On December 31, the home office reportedly holds inventories of 16, 050USD which included 1,050USD held on consignment. Both use the periodic inventory method. What is the amount of inventories in their combined Statement of Financial Position on December 31.Morrow Inc. has the following information for the current year: Opening inventory (units) 600 Production (units) 7,800 Ending inventory (units) 900 Sales price (per unit) $310.00 The company's accounting records provide the following information for the year: Description Amount ($) Customer service dept. Costs 102,300 Administrative costs, head office 107,000 Maintenance manager salary (factory) 88,400 Factory insurance 34,900 Depreciation (head office) 165,100 Salary, president 160,400 Direct Labour 267,400 Depreciation (factory) 213,900 Raw material purchases 428,400 Indirect materials 88,400 Indirect labour 109,300 Factory utilities 55,800 Opening WIP Inventory 4,700 Closing WIP Inventory 9,000 Opening raw materials inventory 9,900 Closing raw materials inventory 8,200 Opening Finished Goods Inventory 16,300 Closing Finished Goods Inventory 21,900 Using the above information, develop a Schedule of Cost of Goods Manufactured,…[The following information applies to the questions displayed below.] National Retail has two departments, Housewares and Sporting. Indirect expenses for the period follow. Rent $ 45,000 Advertising 25,000 Insurance 10,000 Total $ 80,000 The company occupies 4,000 square feet of a rented building. In prior periods, the company divided the $80,000 of indirect expenses by 4,000 square feet to find an average cost of $20 per square foot, and then allocated indirect expenses to each department based on the square feet it occupied. The company now wants to allocate indirect expenses using the allocation bases shown below. Department Square Feet Sales Value of Insured Assets Housewares 1,840 $ 270,000 $ 49,000 Sporting 2,160 230,000 Total 4,000 $ 500,000 $100,000 2. Allocate indirect expenses to the two departments. Rent expense is allocated based on square feet occupied. Advertising expense is allocated based on total sales. Insurance expense is allocated based on the value of insured…