Reference no: EM132629014

Below are the costs incurred by Michael Angelo Company, a consulting firm:

Depreciation on equipment used for contract work     P90,000

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."