Homework Answers
Under job order cost system the entry for the transaction would be:
b. Debit Work in Process and credit Salaries Payable for $6000
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A hospital, United Community Health, accumulates costs associated with individus patients using a job order cost...
Order Cost Accounting for a Service Company e law firm of Furlan and Benson accumulates costs...
Order Cost Accounting for a Service Company e law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred uring July: July 3. Charged 560 hours of professional lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $24,200. 14. Charged 120 hours of...
Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates...
Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 410 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $241 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $23,000. 14. Charged 260 hours of professional...
The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job...
The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 680 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $20,300. 14. Charged 120 hours of professional time for the Obsidian trial at...
Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates...
Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 480 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $22,100. 14. Charged 330 hours...
The law firm of Tilton and Henderson accumulates costs associated with individual cases, using a job...
The law firm of Tilton and Henderson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 660 hours of professional (lawyer) time to the Rucker Co. breech of contract suit to prepare for the trial, at a rate of $220 per hour. 10. Reimbursed travel costs to employees for depositions related to the Rucker case, $14,800. 14. Charged 200 hours of professional time for the Rucker trial at...
Job Order Cost Accounting for a Service Business The law firm of Furlan and Benson accumulates...
Job Order Cost Accounting for a Service Business The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 175 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,500. 14. Charged 260 hours...
Job order cost accounting for a service company The law firm of Furlan and Benson accumulates...
Job order cost accounting for a service company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 450 hours of professional (lawyer) time at a rate of $200 per hour to the Obsidian Co. breech of contract suit to prepare for the trial 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $28,000 14. Charged 250 hours...
1. Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson...
1. Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 430 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $210 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $25,900. 14. Charged 140...
Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...
Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $538,270 b. Materials requisitioned, $452,150, of which $58,780 was for general factory use c. Factory labor used, $554,420, of which $105,340 was indirect d. Other costs incurred on account for factory overhead, $129,180; selling expenses, $199,160; and administrative expenses, $118,420 e. Prepaid expenses expired for factory overhead,...
#5 Problems 1. A not-for-profit hospital, Barnes Hospital, had the following transactions: A. Patients were charged...
#5 Problems 1. A not-for-profit hospital, Barnes Hospital, had the following transactions: A. Patients were charged $360,000 for services. Of this amount, $60,000 was acti to the patients. Hospital officials anticipate that $14,000 will be uncollectible. $300,000 was billed to insurance companies and other third-party payors. Offi that these companies will only pay $264,000 after determining reasonable cost procedures. B. Insurance companies and other third-party payors paid $224,000 to cover 80% in A. The remaining amounts from these charges were...
Order Cost Accounting for a Service Company e law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred uring July: July 3. Charged 560 hours of professional lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $24,200. 14. Charged 120 hours of...
Job Order Cost Accounting for a Service Company The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 410 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $241 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $23,000. 14. Charged 260 hours of professional...
Job Order Cost Accounting for a Service Business The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July: July 3. Charged 175 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,500. 14. Charged 260 hours...
Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $538,270 b. Materials requisitioned, $452,150, of which $58,780 was for general factory use c. Factory labor used, $554,420, of which $105,340 was indirect d. Other costs incurred on account for factory overhead, $129,180; selling expenses, $199,160; and administrative expenses, $118,420 e. Prepaid expenses expired for factory overhead,...
#5 Problems 1. A not-for-profit hospital, Barnes Hospital, had the following transactions: A. Patients were charged $360,000 for services. Of this amount, $60,000 was acti to the patients. Hospital officials anticipate that $14,000 will be uncollectible. $300,000 was billed to insurance companies and other third-party payors. Offi that these companies will only pay $264,000 after determining reasonable cost procedures. B. Insurance companies and other third-party payors paid $224,000 to cover 80% in A. The remaining amounts from these charges were...
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