Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Total Salaries $39,000 Allocation Basis Number of employees Depreciation 29,000 Cost of goods sold Advertising 68,000 Percentage of total sales Department Number of employees Drilling Grinding Total 1,800 2,700 4,500 Sales $368,000 552,000 $ 920,000 Cost of goods sold $ 121,600 198,400 $ 320,000 The amount of salaries that should be allocated to Grinding for the current period is:
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- Championship Sports Inc. operates two divisionsthe Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31, 20Y9, the end of the fiscal year, after all adjustments, including those for inventories, were recorded and posted: The bases to be used in allocating expenses, together with other information, are as follows: a. Advertising expenseincurred at headquarters, allocated to divisions on the basis of usage: Winter Sports Division, 375,000; Summer Sports Division, 715,000. b. Transportation expenseallocated to divisions at a rate of 4.00 per bill of lading: Winter Sports Division, 17,500 bills of lading; Summer Sports Division, 30,500 bills of lading. c. Accounts receivable collection expenseincurred at headquarters, allocated to divisions at a rate of 1.00 per invoice: Winter Sports Division, 25,000 sales invoices; Summer Sports Division, 43,000 sales invoices. d. Warehouse expenseallocated to divisions on the basis of floor space used in storing division products: Winter Sports Division, 60,000 square feet; Summer Sports Division, 90,000 square feet. Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division. Provide supporting computations for support department allocations.Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Allocation Basis Number of employees Office Expenses Salaries Total $ 31,000 Depreciation Advertising 21,000 41,000 Cost of goods sold Percentage of total sales Department Number of employees Drilling Grinding Total 800 1,200 2,000 $ 79,800 130,200 $ 210,000 The amount of depreciation that should be allocated to Grinding for the current period is: Sales $ 330,000 Cost of goods sold 495,000 $ 825,000Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Salaries Depreciation Advertising Department Drilling Grinding Total Total $ 38,000 24,000 52,000 Number of employees 1,640 2,460 4,100 Allocation Basis Number of employees Cost of goods sold Percentage of total sales Sales $338,000 494,000 $832,000 Cost of goods sold $87,000 145,000 $232,000 The amount of the total office expenses that should be allocated to Grinding for the current period is (Do not round your intermediate calculations.)
- Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $39,000 Number of employees Depreciation 29,000 Cost of goods sold Advertising 68,000 Percentage of total sales Department Number of employees Sales Cost of goods sold Drilling 1,800 $368,000 $ 121,600 Grinding 2,700 552,000 198,400 Total 4,500 $920,000 $320,000 The amount of the advertising cost that should be allocated to Drilling for the current period is: Multiple Choice $27,200. $82,600. $40,800. $368,000. $86,200. A company produced 195 units of Product L and 182 units of Product M during the current period and incurred joint costs of $900. Product L sells for $8 per unit and Product M sells for $20 per unit. Compute the cost to be allocated to Product M for this…Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $42,000 Number of employees Depreciation Advertising 26,000 Cost of goods sold 58,000 Net sales Item Drilling Grinding Total Number of employees 1,960 $344,500 $ 93,000 4,900 $848,000 $248,000 2,940 $503,500 $155,000 Net sales Cost of goods sold The amount of the total office expenses that should be allocated to Grinding for the current period is (Do not round your intermediate calculations.)Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Salaries Total Allocation Basis Number of employees $ 40,000 Depreciation Advertising 26,000 60,000 Cost of goods sold Percentage of total sales Department Number of employees Drilling Grinding 1,800 2,700 Sales $ 352,000 528,000 Cost of goods sold $ 110,200 179,800 Total 4,500 $ 880,000 $ 290,000 The amount of the advertising cost that should be allocated to Grinding for the current period is:
- TB MC Qu. 09-92 (Algo) Marks Corporation has two operating... Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $ 31,000 Number of employees Depreciation 21,000 Cost of goods sold Advertising 41,000 Percentage of total sales Department Number of employees Sales Cost of goods sold Drilling 800 $ 330,000 $ 79,800 Grinding 1,200 495,000 130, 200 Total 2,000 $ 825,000 $ 210,000 The amount of the advertising cost that should be allocated to Grinding for the current period is:Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information available for the current period: Office Expenses Total Allocation Basis $ 50,000 Number of employees Cost of goods sold Salaries Depreciation Advertising 34,000 68,000 Net sales Item Drilling Grinding Total Number of employees 1,800 $388,000 $582,000 $970, 000 $140,600 $229,400 $370, 000 2,700 4,500 Net sales Cost of goods sold The amount of the total office expenses that should be allocated to Drilling for the current period is:Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office exApenses are alocated to the tavo opertng cene different allocatlon bases. The following Information is avallable for the current period: Office Expenses Salaries Total Allocation Basis Number of employees 44,000 Depreciation Advertising 21,000 Cost of goods Bold 44,000 Percentage of total sales Department Drilling Grinding Number of employees Sales Cost of goods sold 900 $ 350,000 $ 91,200 2,100 525,000 148,800 Total 3,000 $ 875,000 $ 240,000 The amount of depreciation that should be allocated to Drilling for the current period is: Multiple Choice $7,980. $13,020. $21,000. 8 of 25
- The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold: Service department charges: Commercial Division $422,110 Commercial Division $57,560 Residential Division 218,470 Residential Division 37,840 Administrative expenses: Net sales: Commercial Division $76,750 Commercial Division $639,560 Residential Division 78,030 Residential Division 390,130 Prepare divisional income statements for Jersey Coast Construction Company. Jersey Coast Construction CompanyDivisional Income StatementsFor the Year Ended June 30, 20Y8 Commercial Division Residential Division $Net sales $Net sales Cost of goods sold Cost of goods sold $Gross profit $Gross profit Administrative expenses Administrative expenses $Income from operations before service department charges $Income from operations before service department charges…Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $40,000 Number of employees Depreciation Advertising 26,000 Cost of goods sold 60,000 Net sales Item Drilling Grinding Total Number of employees 1,800 2,700 4,500 Net sales $352,000 $528,000 $880,000 Cost of goods sold $110,200 $179,800 $290,000 The amount of depreciation that should be allocated to Grinding for the current period is: Multiple Choice $37,200. $26,000.The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold: Commercial Division $912,250 Residential Division 423,675 Administrative expenses: Commercial Division $149,800 Residential Division 128,625 Service department charges: Commercial Division $112,560 Residential Division 67,830 Sales: Commercial Division $1,354,500 Residential Division 743,780 Prepare divisional income statements for Jersey Coast Construction Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.