Reference no: EM132629091
FLOW OF COSTS - SERVICE
Below are the costs incurred by Michael Angelo Company, a consulting firm:
Depreciation on equipment used for contract work P 90,000
Depreciation used on administrative office equipment 105,000
Insurance on administrative operations 90,000
Insurance on contract operations 80,000
Janitorial services for administrative offices 50,000
Janitorial services for professional offices 40,000
Salaries of administrative office personnel 770,000
Salaries of professionals working on contracts 1,260,000
Supplies used in the administrative officers 150,000
Supplies used on consulting contracts 120,000
Utilities for administrative operations 130,000
Utilities for contract operations 110,000
REQUIRED:
Problem 1: Prepare a schedule of cost of contract services provided (similar to a cost of goods manufactured schedule) for the month of August of the current year.
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