Homework Answers
Part A
|
A |
Indirect cost pool |
|
B |
Client support |
|
C |
Cost allocation base |
|
D |
Professional labor costs |
|
E |
Cost object for consulting client |
|
F |
Indirect costs |
|
G |
Direct costs |
|
H |
Direct costs |
|
I |
Professional labor |
Budgeted indirect-cost rate = $13,000,000 ÷ $5,000,000 = 260% of professional labor costs
Part B
Markup rate = $20,000,000 ÷ $5,000,000 = 400% of direct professional labor costs
Part C
|
Budgeted costs |
||
|
Direct costs: |
||
|
Director (200*3) |
600 |
|
|
Partner (100*16) |
1600 |
|
|
Associate (50*40) |
2000 |
|
|
Assistant (30*160) |
4800 |
9000 |
|
Indirect costs |
||
|
Consulting support (9000*260%) |
23400 |
|
|
Total costs |
32400 |
|
|
Markup |
400% |
|
|
Bid price |
$129600 |
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Keating & Associates is a law firm specializing in
labor relations and employee related work. It employs 30
professionals (5 partners and 25 associates) who work directly with
its clients. The average budgeted total compensation per
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have $1,500 billable hours to clients in 2017. All professional
work for clients to their maximum 1,500 billable hours available.
All professional labor costs are included in a single direct cost
category and are...
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please answer requirements 1, 2, 3, 4!
thank you so much :)
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Kidman & Associates is a law firm specializing in labor relations and employee-related work. It employs 30 professionals (5 partners and 25 associates) who work directly with its clients. The average budgeted total compensation per professional for 2017 is $97,500. Each professional is budgeted to have 1,500 billable hours to clients in 2017. All professionals work for clients to their maximum 1,500 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to...
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Chirac & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has...
Chirac & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has a single direct-cost category (professional labor) and a single indirect-cost pool (audit support, which contains all costs of the Audit Support Department). Audit support costs are allocated to individual jobs using actual professional labor-hours. Chirac & Partners employs 10 professionals to perform audit sevices. Budgeted and actual amounts for 2017 are as follows: B Click the icon to view the data.) Read the requirements....
Keating & Associates is a law firm specializing in
labor relations and employee related work. It employs 30
professionals (5 partners and 25 associates) who work directly with
its clients. The average budgeted total compensation per
professional for 2017 is $97,500. Each professional is budgeted to
have $1,500 billable hours to clients in 2017. All professional
work for clients to their maximum 1,500 billable hours available.
All professional labor costs are included in a single direct cost
category and are...
Kidman & Associates is a law firm specializing in labor relations and employee-related work. It employs 25 professionals (10 partners and 15 associates) who work directly with its clients. The average budgeted total compensation per professional for 2017 is $119,000. Each professional is budgeted to have 1,750 billable hours to clients in 2017. All professionals work for clients to their maximum 1,750 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to...
P4-37 (similar to) Kinnett & Associates is a law firm specializing in labor relations and employee-related work. It employs 30 professionals (10 partners a for 2017 is $105,000. Each professional is budgeted to have 1,500 billable hours to clients in 2017. All professionals work for clients to category and are traced to jobs on a per hour basis. All costs of Kinnett & Associates other than professional labor costs are included i allocation base. The budgeted level of indirect costs...
please answer requirements 1, 2, 3, 4!
thank you so much :)
Keaton & Associates is a law firm specializing in labor relations and employee-related work. It employs 30 professionals (10 partners and 20 associates) who work directly with its clients. The average budgeted total compensation per professional for 2017 is $105,000. Each professional is budgeted to have 1,500 billable hours to clients in 2017. All professionals work for clients to their maximum 1,500 billable hours available. All professional labor...
Score: 0 of 1 pt 1 of 5 (0 complete) E4-33 (similar to) Chirac & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has a single direct-cost category (pro the Audit Support Department). Audit support costs are allocated to individual jobs using actual professional labor hours. Chirac & Partners employs 10 profi follows: Click the icon to view the data.) Read the requirements. Requirement 1. Compute the direct-cost rate and the Indirect-cost rato per professional...
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manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 1. Calculate the budgeted manufacturing overhead rate. 2 Calculate the manufacturing overhead allocated during 2017 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? 4-25 Job costing, accounting for manufacturing overhead, budgeted rates. The Matthew Company uses Seormal job-costing system at its Minneapolis plant. The plant has a machining department and an assem- bly department. Its job-costing system has two direct-cost categories (direct materials...
Kidman & Associates is a law firm specializing in labor relations and employee-related work. It employs 25 professionals (10 partners and 15 associates) who work directly with its clients. The average budgeted total compensation per professional for 2011 is $119,000. Each professional is budgeted to have 1.750 billable hours to clients in 2011. All professionals work for clients to their maximum 1.750 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to...
Chirac & Partners, a Quebec-based public accounting partnership, specializes in audit services. Its job-costing system has a single direct-cost category (professional labor) and a single indirect-cost pool (audit support, which contains all costs of the Audit Support Department). Audit support costs are allocated to individual jobs using actual professional labor-hours. Chirac & Partners employs 10 professionals to perform audit sevices. Budgeted and actual amounts for 2017 are as follows: B Click the icon to view the data.) Read the requirements....
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