FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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HomeLife Life Insurance Company has two service departments (actuarial and premium rating) and two production departments (advertising and sales). The distribution of each service department's efforts (in percentages) to the other departments is shown in the following table: Actuarial Premium rating Advertising Sales Actuarial Advertising Sales From Actuarial 154 159 Premium 20% 20 60 The direct operating costs of the departments (including both variable and fixed costs) are: To Premium Rating 70% $ 97,000 32,000 77,000 57,000 Advertising department Sales department Required: 1. Determine the total costs of the advertising and sales departments after using the direct method of allocation, 2. Determine the total costs of the advertising and sales departments after using the step method of allocation where the Actuarial Department is allocated first. 3. Determine the total costs of the advertising and sales departments after using the reciprocal method of allocation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the total costs of the advertising and sales departments after using the direct method of allocation. Total Cost Deadl
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Transcribed Image Text:HomeLife Life Insurance Company has two service departments (actuarial and premium rating) and two production departments (advertising and sales). The distribution of each service department's efforts (in percentages) to the other departments is shown in the following table: Actuarial Premium rating Advertising Sales Actuarial Advertising Sales From Actuarial 154 159 Premium 20% 20 60 The direct operating costs of the departments (including both variable and fixed costs) are: To Premium Rating 70% $ 97,000 32,000 77,000 57,000 Advertising department Sales department Required: 1. Determine the total costs of the advertising and sales departments after using the direct method of allocation, 2. Determine the total costs of the advertising and sales departments after using the step method of allocation where the Actuarial Department is allocated first. 3. Determine the total costs of the advertising and sales departments after using the reciprocal method of allocation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the total costs of the advertising and sales departments after using the direct method of allocation. Total Cost Deadl
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