Question

Exercise 14-13 a (Video) Keisha Tombert, the bookkeeper for Concord Consulting, a political consulting firm, has recently completed a managerial accounting course at her local college. One of the topics covered in the course was the cost of goods manufactured schedule. Keisha wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2020 Supplies used on consulting contract:s Supplies used in the administrative offices $2,280 2,350 990 1,950 15,700 8,410 750 520 810 930 2,330 1,890 Depreciation on equipment used for contract work Depreciation used on administrative office equipment Salaries of professionals working on contracts Salaries of administrative office personnel Janitorial services for professional offices Janitorial services for administrative offices Insurance on contract operations Insurance on administrative operations Utilities for contract operations Utilities for administrative offices

Answer 1

Description	Amount ($)	Amount ($)
Supplies used on consulting contracts		2,280.00
Salaries of professionals working on contract		15,700.00
Service Overhead:
Janitorial services for professional offices	750.00
Insurance on contract operations	810.00
Utilities for contract operations	2,330.00
Depreciation on equipment used for contract work	990.00
Total service overhead		4,880.00
Cost of Contract Services Provided		22,860.00

Please note below listed expenses will be recorded in the income statement under indirect expenses such as administrative expenses etc
Supplies used in administrative offices	2,350.00
Depreciation on administrative office equipment	1,950.00
Salaries of administrative office personnel	8,410.00
Janitorial services for administrative offices	520.00
Insurance on administrative operations	930.00
Utilities for administrative offices	1,890.00
Total	16,050.00