FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Overheads
In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyz…
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Robinson Products Company has two service departments (S1 and 52) and two production departments (P1 and P2). The distribution of each service department's efforts (in percentages) to the other departments is From 51 52 P1 20% ? The direct operating costs of the departments (including both variable and fixed costs) are 51 $ 180,000 52 60,000 50,000 120,000 51 P1- P2 10% To $2 10% PZ 2% Required: 1. Determine the total cost of P1 and P2 using the direct method. 2. Determine the total cost of P1 and P2 using the step method. 3. Determine the total cost of P1 and P2 using the reciprocal method. Production department 1 Production department 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the total cost of P1 and P2 using the direct method. (Do not round intermediate calculations.) Total Cost Allocated Required 2 >
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Transcribed Image Text:Robinson Products Company has two service departments (S1 and 52) and two production departments (P1 and P2). The distribution of each service department's efforts (in percentages) to the other departments is From 51 52 P1 20% ? The direct operating costs of the departments (including both variable and fixed costs) are 51 $ 180,000 52 60,000 50,000 120,000 51 P1- P2 10% To $2 10% PZ 2% Required: 1. Determine the total cost of P1 and P2 using the direct method. 2. Determine the total cost of P1 and P2 using the step method. 3. Determine the total cost of P1 and P2 using the reciprocal method. Production department 1 Production department 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the total cost of P1 and P2 using the direct method. (Do not round intermediate calculations.) Total Cost Allocated Required 2 >
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Step 1: Introduction
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Step 2: 1. Computation of total cost under direct method
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Step 3: 2. Computation of total cost under step method
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Step 4: 3. Computation of total cost under reciprocal method
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