Determine the total cost from the given datawinkle kotter

Assignment Help Financial Accounting
Reference no: EM13355869

Determine the total cost from the given data.

Winkle, Kotter, and Zale is a small law firm that contains 10 partners and 10 support persons. 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 t its clients. At the beginning of the current year, the firm\'s management made the following estimates for the 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

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

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

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

What would be the total cost charged to Case 618-3? Show computations by department and in total for the case.

Reference no: EM13355869

Questions Cloud

Honey butter inc manufactures a product that goes through : honey butter inc. manufactures a product that goes through two departments prior to completion. the following
Determine the unit of productionnbsp from the given : determine the unit of productionnbsp from the given data.javadi company makes a composting bin that is subject to wide
Determine the unit costnbsp from the given datajavadi : determine the unit costnbsp from the given data.javadi company makes a composting bin that is subject to wide seasonal
Determine the under applied overhead in ligitation : determine the under applied overhead in ligitation department.winkle kotter and zale is a small law firm that contains
Determine the total cost from the given datawinkle kotter : determine the total cost from the given data.winkle kotter and zale is a small law firm that contains 10 partners and
Determine the total overhead from the given datawinkle : determine the total overhead from the given data.winkle kotter and zale is a small law firm that contains 10 partners
Determine the pre determined overhead cost from the given : determine the pre determined overhead cost from the given data.winkle kotter and zale is a small law firm that contains
Determine the average costnbsp from the given datasvens : determine the average costnbsp from the given data.svens cookhouse is a popular restaurant located on lake union in
Determine the average costnbsp from the given datasvens : determine the average costnbsp from the given data.svens cookhouse is a popular restaurant located on lake union in

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd