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Wayne Shen established Windy City Placement Service (WCPS) to provide executive counseling and job placement services to its clients. Wayne charges a fee of $450.00 per hour for each service. The revenues and costs for the year are shown in the following income statement:
Wayne has kept good records of the following data for cost allocation purposes:
Required:
a. Complete the income statement using activity-based costing and WCPSs three cost drivers.
b. Recompute the income statement using direct labor-hours as the only allocation base (150 hours for executive counseling; 450 hours for placement services).
The direct method might be easier to understand but it is also more expensive and more time consuming for the company why is that? and Whats the best method to use for businesses?
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