Loraine company has two departments. relevant information is presented below: department 1 department 2 budgeted...
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Accounting
Loraine company has two departments. relevant information is presented below:
department 1 department 2 budgeted
gross margin $100,000 $500,000
actual gross margin $200,000 $600,000
budgeted sales $500,000 $2,000,000
actual sales $300,000 $2,100,000
corporate management salaries are $3,000,000.
the salaries are allocated based on sales using the preferred approach. what amount of salaries is allocated to department 1?
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