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

Question 1the board of directors is considering updating

Question 1 The board of directors is considering updating the fleet of vehicles of the company which are used to ship goods to markets all around the United States. They will be leasing the vehicles as opposed to purchas ...

Task -task covers the application of conceptual and

Task - Task covers the application of conceptual and technical aspects of accounting and the preparation of business financial statements, the appraisal of the use of information technology including spreadsheet software ...

Harmon helmets purchased equipment for 62000 cash sold

Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2013. No new notes payable were issued during the year. Financial ...

District water company issued 10-year bonds with a face

District Water Company issued 10-year bonds with a face value of $100,000 and a stated interest rate of 8.0%. The bonds are dated April 1, 2016, and call for semiannual interest payments on each April 1 and October 1. Du ...

Accounting discussion questionbulldiscuss the advantages of

Accounting Discussion Question • Discuss the advantages of understanding accounting as it relates to your current or future position. (Consider careers in management, sales, business operations, finance, and business own ...

Indeed it can be said that newspapers are facing tough

Indeed it can be said that newspapers are facing tough times, and yes, the Internet can offer many things that papers cannot. Even so, the death of newspapers has been predicted by many for decades. Radio, TV and now the ...

Accounting assignmentthree personal trainers at an upscale

Accounting Assignment Three personal trainers at an upscale health spa / resort in Sedona, Arizona, want to start a health club that specializes in health plans for people in the 50+ age range. The trainers Donna Rinaldi ...

Assignmentbackgroundyou are an audit senior for burns amp

Assignment Background You are an audit senior for Burns & Allen, LLP. One of the audit partners received a call from Brenda Parker, CFO of a publicly traded client, Toys For U ("Toys"). Toys is a retailer with 25 locatio ...

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 ...

Problem -using the following proforma information regarding

Problem - Using the following proforma information regarding GE, Inc. based on analysts' forecast in early 2016:   2016E 2017E Next 3 years EPS 1.29 1.56 Growth at 7.59% DPS 0.92 1.11 Growth at 10% The book value of GE's ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

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