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Question - In 2016 (one year later when the rates have changed), Kranworth continued allocating R&D costs among its three divisions (Retail, Wholesale, Custom) using the dual rates method. The following information for 2016 is available:
Actual R&D costs total 730,000
Budgeted total costs 726,000
Budgeted fixed 495,000
Budget (variable cost per hour) 110
Total R&D capacity (hours) 2,315
Retail
Wholesale
Custom
Budgeted hours
550
1,100
450
Total actual hours
600
500
Required - How much of the 730,000 should be allocated to the retail division? Assume there is only one variable cost rate (no upcharge when actual hours exceed budgeted hours).
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