Service Department and Joint Cost Allocation
6 important questions on Service Department and Joint Cost Allocation
Final cost center
Reasons to allocate costs:
- To determine the cost to produce and market the product.
- Cross-department-monitoring
Limitations of the direct method
- Cross-departmental-monitoring is not possible because the direct method ignores the costs that service departments themeselves incur when they use other service departments.
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Limitations of the step method:
- It is not better that the direct method. Managers do not have a reason to switch from direct to step.
Physical Quantities method
Two methods of accounting for by-products:
- The net realizable value from sale of the by product is deducted from the joint costs.
- The proceeds from sale of the by-product are treated as other revenue.
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