Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Winkle, Kotter, and Zale is small law firm which contains 10 partners and 10 support persons. Firm employs a job-order costing system to accumulate costs chargeable to each client, and it is organized into two departments-Research and Documents Department and Litigation Department. Firm utilizes predetermined overhead rates to charge costs of these departments its clients. At the stating of the present year, firm's management made following evaluates for year:

  Department
  Research and Documents Litigation
Research-hours 20,000 -
Direct attorney-hours 9,000 16,000
Materials and supplies $18,000 $5,000
Direct attorney cost $430,000 $800,000
Departmental overhead cost $700,000 $320,000

Predetermined overhead rate in Research and Documents Department is based on research-hours, and rate in Litigation Department is based on direct attorney cost.

Costs charged to each client are made up of three elements: materials and supplies used, direct attorney cost incurred, and applied amount of overhead from each department in which work is performed on case.

Case 618-3 was initiated on February 10 and completed on June 30. In this period, following costs and time were recorded on case:

  Department
  Research and Documents Litigation
Research-hours 18 -
Direct attorney-hours 9 42
Materials and supplies $50 $30
Direct attorney cost $410 $2,100

Compute total cost charged. Ilustrate computations by department and in total for case.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918386

Have any Question? 


Related Questions in Accounting Basics

Watch accounting witts video titled cash and accrual -

Watch Accounting WITT's video titled "Cash and Accrual - Conceptual": https://www.youtube.com/watch?v=aPwdgUDXkkE&feature=youtu.be Based on the video, explain two (2) advantages and two (2) disadvantages in using both th ...

Accounting assignmentbullemployee theft is a major problem

Accounting Assignment • Employee theft is a major problem in the U.S. retail industry. Information obtained from SecurityInfoWatch reported that twenty three (23) major retailers alone apprehended over 1.1 million shopli ...

Ace lawn care module - mini practice problemjim graham

Ace Lawn Care Module - Mini Practice Problem Jim Graham started his career mowing lawns for neighbors while he was in junior high school. Jim worked summers for the local golf course while he was in high school and now t ...

Question 1if total liabilities are 1000 and total assets

Question 1 If total liabilities are $1,000 and total assets are $8,000, owner's equity must be A. $7,000. B. $3,000. C. $10,000. D. $13,000. Question 2 If total assets are $30,000 and total liabilities are $18,000, capit ...

1 ahn nguyen a vietnamese joint stock company has net

1. Ahn Nguyen, a Vietnamese Joint Stock Company has net income of 52,000 Vietnamese Dong, () and the following items: Depreciation Expense   16,000 Accounts Receivable Increase                    12,000 Inventory Decreas ...

What went wrongfriends bank is seeking to hire a new teller

What Went Wrong? Friend's Bank is seeking to hire a new teller. Darrell has applied for the position. His application states that five years ago, he was convicted for embezzlement as a teller. In the interview, Darrell r ...

1 here is a very detailed article on asset

1. Here is a very detailed article on asset valuation. http://www.investopedia.com/articles/stocks/07/allocate_assets.asp What have you found interesting in this article? How can this help you as you progress with your a ...

Internet case-citizen-centric reportingalthough citizens

Internet Case-Citizen-Centric Reporting Although citizens should be concerned about the performance of government, in truth, few citizens typically review the financial information provided by their government. In part, ...

Expl principles of accountingdepartment Expl Principles of Accounting Department

Expl Principles of Accounting Department Responsibility • Why should responsibility for related transactions be divided among different departments or individuals? Do you agree the transactions should be divided? Why or ...

As you begin this assignment review the broad range of

As you begin this Assignment, review the broad range of topics presented throughout the course related to using accounting information for decision making. Clearly, 8 weeks does not provide enough time to explore all the ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen