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Talent Engineering has two divisions, Research and Sales, that share the common costs of the company's communications network. The annual common costs are $2,250,000. You have been provided with the following information for the upcoming year:
Required:
The cost accountant determined $1,350,000 of the communication network's costs were fixed and should be allocated based on the number of calls. The remaining costs should be allocated based on the time on the network. What is the total communication network costs allocated to each division? (Use three decimal places in your calculations.)
Both Parties
Referring to the two entities or individuals involved in an agreement, contract, or negotiation.
Fraud in the Inducement
A deceitful practice where one party intentionally misrepresents material facts, inducing another to enter into a contract.
UCC Statute of Frauds
A legal requirement under the Uniform Commercial Code that certain contracts must be in writing to be enforceable.
Agreed-upon Terms
The specific conditions and stipulations that are formally accepted by the parties involved in a contract or agreement.
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