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A retailer pays $150,000 rent each year for its two-story building. The space in this...

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Accounting

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A retailer pays $150,000 rent each year for its two-story building. The space in this building is occupied by five departments as specified here Jewelry department Cosmetics department Housewares department Tools department Shoes department 1,750 square feet of first-floor space 3,250 square feet of first-floor space 2,050 square feet of second-floor space 950 square feet of second-floor space 2,e00 square feet of second-floor space The company allocates 65% of total rent expense to the first floor and 35% to the second floor, and then allocates rent expense for each floor to the departments occupying that floor on the basis of space occupied Determine the rent expense to be allocated to each department. Answer is complete but not entirely correct. Amount Allocated $ 150,000 50,000 % of Total Cost First floor Second floor Totals 65% .$ 35% | 100% |$ 97,500 52.500 150,000 First Floor Jewelry Dept. Cosmetics Dept. Totals Sq. Feet 1,750 3,250 5,000 Sq. Feet 2,050 950 2,000 5,000 % of Total Cost 30% 70% 100% 613 2,113 2,726 |$ Second Floor Housewares % of Total Cost Tools Dept. Shoes Dept. Totals 39% 31% 100% 615 3,705 620 4,940 |$

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