User Account

All Pages

Keating amp associates is a firm specializing labor

Assignment Help Accounting Basics
Reference no: EM13572362

Keating & Associates is a firm specializing labor relations and employee-reated work. It employs 25 professionals who work directy with its clients. The average budgeted total compensation per professional for 2011 is $104,000. Each professional is bugeted to have 1,600 billable hours to clients in 2011. All professionals work for clients to their maximum 1,600 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to jobs on a per-hour basis. All costs of Keating & Associates other than professional labor costs are inlcuded in a single indirect-cost pool (legal support) and are allocaed to jobs using professional labor-hours as the allocation base. The budgeted of indirect costs in 2011 is $2,200,000.

1. Prepare an overview diagram of Keating's job-costing system.

2. Compute the 2011 bugeted direct-cost rate per hour of professional labor.

3. Compute the 2011 budgeted indirect-cost rate per hour of professional labor.

4. Keating & Associates is considering bidding on two jobs:

a. Litigation work for Richardson, Inc,. which requires 100 budgeted hours of professionals labor.

b. Labor contract work for Punch, Inc., which requires 150 budgeted hours of professional labor. Prepare a cost estimate for each job.

Reference no: EM13572362

Questions Cloud

A 7 percent 20 year 1000 par value floating rate bond is : a 7 percent 20 year 1000 par value floating rate bond is purchased in 2000. by the year 2010 rates on bonds of similar
Hardly a day goes by without an article appearing on the : hardly a day goes by without an article appearing on the crises affecting many of our financial institutions in the
Prepare a forecasted income statement for apple for years : prepare a forecasted income statement for apple for years 2014 - 2018. use the apple 10-k as of september 28 2013 as
Prepare the appropriate journal entry to record the : the manda panda company uses the allowance method to account for bad debts. at the beginning of 2013 the allowance
Keating amp associates is a firm specializing labor : keating amp associates is a firm specializing labor relations and employee-reated work. it employs 25 professionals who
Suppose a state of california bond will pay 1000 eight : suppose a state of california bond will pay 1000eight years from now. if the going interest rate on these 8-year bond
If the project focuses on two areas of study-information : proposal rough draft project1. overview of the projectwhat subjects will the project address?if the project focuses on
No payments will be made until the bond matures 10 years : suppose the u.s treasury offers to sell you a bond for 3000. no payments will be made until the bond matures 10 years
Determine the amount of money in a savings account at the : determine the amount of money in a savings account at the end of five years given an initial deposit of 3000 and an 8

Reviews

Write a Review

Accounting Basics Questions & Answers

  Bottleneck profit product k has a unit contribution margin

bottleneck profit product k has a unit contribution margin of 160. product l has a unit contribution margin of 80.

  Raise or bonus depended on a single financial measure

Raise or bonus depended on a single financial measure

  What is the amount of cash received by the seller

The seller paid transportation costs of $1,000 and issued a credit memorandum for $2,000 prior to payment. What is the amount of cash received by the seller if the invoice is paid within the discount period?

  Double taxation effect

Shareholders in closely held corporations often engage in transactions designed to minimize the double taxation effect of C corporations. Briefly describe the double taxation effect and explain some of the ways double taxation can be minimized.

  Marketing and distribution expenses

In addition, Anheuser-Busch sold 136 million barrels of beer during the year. Assume that variable costs were 70% of the cost of goods sold and 45% of marketing and distribution expenses.

  What is the equity at the end of year

At the begining of the year , Addison Company's assets are 259,000 and it's equity is 194,250. During the year ,assets increased 80,000 and liabilities increase 52,643. What is the equity at the end of the year?

  Selected account balances from the adjusted trial balance

selected account balances from the adjusted trial balance for olinda corporation as of its calendar year end december

  Complete phillip and claire dunphy

Complete Phillip and Claire Dunphy's 2013 federal income tax return.

  Prepare a production report for the mixing department

Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead.

  What is the amount dubois will receive on the sale

Dubois Inc. loans money to John Kruk Corporation in the amount of $823,200. Dubois accepts an 8% note due in 6 years with interest payable semiannually.

  What are financial accounting management accounting and

what are financial accounting management accounting and finance? what are their similarities and

  Average accounting return your firm is considering

average accounting return. your firm is considering purchasing a machine with the following annual end-of-year book

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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