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Trick's Costumes Has 65 Employees,who Are Distributed as Follows The Payroll-Related Costs for the Year Are $1,043,050

question 25

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Trick's Costumes has 65 employees,who are distributed as follows:  Design 12 employees  Fabrication 30 employees  Purchasing 8 employees  Administration 10 employees  Sales 5 employees \begin{array} { | l | c | } \hline \text { Design } & 12 \text { employees } \\\hline \text { Fabrication } & 30 \text { employees } \\\hline \text { Purchasing } & 8 \text { employees } \\\hline \text { Administration } & 10 \text { employees } \\\hline \text { Sales } & 5 \text { employees } \\\hline\end{array} The payroll-related costs for the year are $1,043,050.If Trick's Costumes does use departmental classification,how much is allocated to the Administration department? (Do not round intermediate calculations.Round final answer to 2 decimal places.)

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Definitions:

Cost-plus-fixed-fee Pricing

A pricing strategy where the selling price is determined by adding a fixed fee or profit margin to the total cost of manufacturing or producing the product.

Yield Management Pricing

A pricing strategy that involves adjusting prices based on changing demand and supply conditions, often used in industries like airlines and hotels to maximize revenue.

Cost-plus-percentage-of-cost Pricing

A pricing strategy where the selling price is determined by adding a specific percentage of markup to the product's cost.

Target Return On Investment Pricing

Pricing strategy where the price is set based on the desired return on investment.

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