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Part 1 | |||||
Predetermined overhead rate in Research and Documents | |||||
Estimated Departmental Overheads | a | $ 840,000 | |||
Estimated Research hours | b | 24,000 | Hours | ||
Predetermined overhead rate in Research and Documents | a/b | $ 35 | |||
Predetermined overhead rate in Litigation | |||||
Estimated Departmental Overheads | a | $ 360,000 | |||
Direct Litigation Cost | b | $ 900,000 | |||
Predetermined overhead rate in Litigation | a/b | 40% | |||
Part 2 | |||||
Research and Documents Overehad applied | $35*26 Hours | $ 910 | |||
Litigation Overhead applied | 40%*$5,700 | $ 2,280 | |||
Total | $ 3,190 | ||||
Part 3 | |||||
Research and Document | Litigation | Total | |||
Legal forms and supplies | $ 80 | $ 40 | $ 120 | ||
Direct attorney cost | $ 350 | $ 5,700 | $ 6,050 | ||
Overehad cost applied | $ 910 | $ 2,280 | $ 3,190 | ||
Total Cost | $ 1,340 | $ 8,020 | $ 9,360 | ||
Part 4 | |||||
Departmental overhead cost incurred | $ 870,000 | $315,000 | |||
Departmental overhead cost applied: | |||||
26,000 Hours*$35 | $ 910,000 | ||||
$750,000*40% | $300,000 | ||||
Underapplied/(Overapplied) | $ -40,000 | $ 15,000 |
Direct labor Indirect labor 0,000 Prepaid insurance expired during the year, $3,000 (80 elaied to...
Winder, Knotter, and Nale is a small law firm that has 10 partners and 10 support people. The firm employs a job-order costings to accumulate costs chargeable to each client, and it is organized into two departments-the Research and Documents Depart and the Litigation Department. The firm uses predetermined overhead rates to charge the costs of these departments to its clie the beginning of the current year, the firm's management made the following estimates for the year: Department Litigation Research-hours...
Winder, Knotter, and Nale is a small law firm that has 10 partners and 10 support people. The firm employs a job-order costing system to accumulate costs chargeable to each client, and it is organized into two departments-the Research and Documents Department and the Litigation Department. The firm uses predetermined overhead rates to charge the costs of these departments to its clients. At the beginning of the current year, the firm's management made the following estimates for the year: Department...
Winder, Knotter, and Nale is a small law firm that has 10 partners and 10 support people. The firm employs a job-order costing system to accumulate costs chargeable to each client, and it is organized into two departments—the Research and Documents Department and the Litigation Department. The firm uses predetermined overhead rates to charge the costs of these departments to its clients. At the beginning of the current year, the firm's management made the following estimates for the year: Department...
Winder, Knotter, and Nale is a small law firm that has 10 partners and 10 support people. The firm employs a job-order costing system to accumulate costs chargeable to each client, and it is organized into two departments-the Research and Documents Department and the Litigation Department. The firm uses predetermined overhead rates to charge the costs of these departments to its clients. At the beginning of the current year, the firm's management made the following estimates for the year: Department...
Winder, Knotter, and Nale is a small law firm that has 10 partners and 10 support people. The firm employs a job-order costing system to accumulate costs chargeable to each client, and it is organized into two departments-the Research and Documents Department and the Litigation Department. The firm uses predetermined overhead rates to charge the costs of these departments to its clients. At the beginning of the current year, the firm's management made the following estimates for the year: Department...
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