0 es A retailer pays $170,000 rent each year for its two-story building. Space in this...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
0 es 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 1,380 (first-floor) 3,220 (first-floor) Square feet occupied 1,840 (second-floor) 736 (second-floor) 2,024 (second-floor) The company allocates $110,500 of total rent expense to the first floor and $59,500 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 Allocate these portions of total rent expense across the departments occupying each floor. First Floor Jewelry Department Square Feet 170.000 Percent of Total Cost Allocated 601% S 102 000 m The company allocates $110,500 of total rent expense to the first floor and $59,500 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. Allocate these portions of total rent expense across the departments occupying each floor. First Floor Jewelry Department Cosmetics Department Totals Second Floor Housewares Department Tools Department Shoes Department Totals Square Feet 170,000 170,000 340,000 Square Feet 2,009 2,009 Percent of Total Cost Allocated $ 60% 40 % 100 % Percent of Total 41% % % 41 % 102,000 68,000 170,000 $ Cost Allocated $ $ 27,880 27,880 0 es 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 1,380 (first-floor) 3,220 (first-floor) Square feet occupied 1,840 (second-floor) 736 (second-floor) 2,024 (second-floor) The company allocates $110,500 of total rent expense to the first floor and $59,500 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 Allocate these portions of total rent expense across the departments occupying each floor. First Floor Jewelry Department Square Feet 170.000 Percent of Total Cost Allocated 601% S 102 000 m The company allocates $110,500 of total rent expense to the first floor and $59,500 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. Allocate these portions of total rent expense across the departments occupying each floor. First Floor Jewelry Department Cosmetics Department Totals Second Floor Housewares Department Tools Department Shoes Department Totals Square Feet 170,000 170,000 340,000 Square Feet 2,009 2,009 Percent of Total Cost Allocated $ 60% 40 % 100 % Percent of Total 41% % % 41 % 102,000 68,000 170,000 $ Cost Allocated $ $ 27,880 27,880
Expert Answer:
Answer rating: 100% (QA)
Amount Allocated of Total Cost First Floor 170000 60 102000 Second Floo... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The following data were obtained for flow of 20C water at 20 m3/hr through a badly corroded 5-cm-diameter pipe which slopes downward at an angle of 8: p1 = 420 kPa, z1 = 12 m, p2 = 250 kPa, z2 = 3 m....
-
The following data are obtained from a 23 factorial experiment replicated three times. Evaluate the sums of squares for all factorial effects by the contrast method. Drawconclusions. Treatment...
-
The following data were obtained for the gas-phase de-composition of dinitrogen pentoxide, 2N2O5(g) 4NO2(g) + O2(g) Where Write the rate law and calculate the value of the rate constant. N20slo nial...
-
A saver invests 100,000 in a savings account which pays a stated annual rate of interest of 4.5% compounded quarterly. Assuming no additional deposits or withdrawals, how much is in the account at...
-
Compute and interpret the contribution margin ratio using the following data: sales, $ 5,000; total variable cost, $ 3,000.
-
The Pima and Southern Railroad (PSRR) is a small railroad operating in rural Arizona. It exists by carrying freight to remote areas of the southwest. This year the PSRR needs to replace a 30-mile...
-
Suppose you deposit \($1,000\) in an account at the end of each of the next four years. If the account earns 12 percent, how much will be in the account at the end of seven years?
-
Colonial State College is considering building a new multipurpose athletic complex on campus. The complex would provide a new gymnasium for intercollegiate basketball games, expanded office space,...
-
x P 6-17 (similar to) Suppose a seven-year, $1,000 bond with an 8 2% coupon rate and semiannual coupons is trading with a yield to maturity of 6.32% a. Is this bond currently trading at a discount,...
-
A pulpwood loader as shown in Figure P5-63 is to be designed to lift 2.5 kip. Select a steel and determine a suitable tubular cross section for the main upright member BF that has attachments for the...
-
Bob and Freda are married and filing a joint return. They botheligible educators. Bob spent $565 on classroom supplies, and Fredaspent $212. How much can they deduct as a qualified educatorexpense? 1...
-
sunland zone corporation expeirenced variances: materials price $ 3 1 0 U , materials quanity $ 1 , 5 0 0 F , labor price $ 7 0 0 F , and total overhead $ 1 , 0 6 0 U . Sales revenue was $ 8 1 , 0 0...
-
How is technology transforming social relationships and communication, and what are the broader implications for social structure and identity ?
-
In its first month of operations, Carla Vista Company made three purchases of merchandise in the following sequence: (1) 240 units at $9, (2) 340 units at $11, and (3) 440 units at $12. Assuming...
-
Calculate the working capital at Dec 31, 2022. 6) The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts payable 8,000 20,000 15,000 Bonds payable 120,00 0...
-
In Sunland Company, there was an increase in the land account during the year of $ 8 5 0 0 . Analysis reveals that the change resulted from a cash sale of land at cost $ 1 4 8 6 0 0 , and a cash...
-
Multiple Product Break-Even Analysis Joe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of three categories: standard, multiform, and...
-
The MIT Sloan School of Management is one of the leading business schools in the U.S. The following table contains the tuition data for the masters program in the Sloan School of Management. a. Use...
-
Open-end equity mutual funds find it necessary to keep a significant percentage of total investments, typically around 5% of the portfolio, in very liquid money market assets. Closed-end funds do not...
-
Consider a bond paying a coupon rate of 10% per year semiannually when the market interest rate is only 4% per half-year. The bond has 3 years until maturity. a. Find the bonds price today and 6...
-
Washington considers a put option that has a delta of 20.65. If the price of the underlying asset decreases by $6, then what is the best estimate of the change in option price? Mark Washington, CFA,...
-
Stony Electronics, an electronics manufacturer, includes battery packs with its laptop computers that it sells. After a year of sales of the product, management learns that the battery packs have the...
-
Koll's Company is preparing its annual financial statements at December 31, 2020. During 2020, a customer fell while riding on the escalator and has filed a lawsuit for \(\$ 150,000\) because of a...
-
Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. In a recent annual report on...
Study smarter with the SolutionInn App