Required information Problem 11-61 (Algo) Direct, Step, and Reciprocal Methods: Comparisons (LO 11-2, 3, 4) (The following information applies to the questions displayed below. Gipps Business College (GBC) has two degree programs, undergraduate (UG) and graduate (GRAD) and three service departments, information technology (IT), Event Planning (EP), and Career Services (CS). The CFO of GBC is conducting a profitability analysis of the two programs and wants to include the appropriate costs of the service departments in the costs of the two degree programs. As a part of the analysis, the CFO has collected the following usage patterns of the service departments over the last two years. Supplying Department IT EP CS Direct cost IT 0 0 0 $98,000 Using Department EP CS 10% 20% 0 258 0 0 $102,000 $136,000 UG 408 258 60% TBD GRAD 30% 50% 40$ TBD *To Be Determined Problem 11-61 (Algo) Part a Required: a. The CFO is unsure what the best way to allocate the cost is and has asked you for the allocations to the UG and GRAD programs using: 1. The direct method; 2. The step method starting with IT, followed by EP, and then CS; 3. The reciprocal method. (You do not need matrix algebra or to read the Appendix to complete this requirement.)