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Problem - A legal consulting firm provides legal advice to business corporations. The firm charges corporate clients for both direct professional time at an hourly rate, secretarial services at $60 per professional labor-hour, and office support charges at 20% of the direct professional costs billed. There are three lawyers in the firm and their rates per professional hour are as follows:
Lawyer
Billing Rate Per Hour
Alex
$640
Bob
$220
Cathy
$100
The firm has just prepared the October bills for two clients, SN Inc. and MR Ltd. The hours of professional time spent on each client are as follows:
Hours per SN Inc.
Hours per MR Ltd.
26
4
5
14
39
52
Required - What amounts did the legal consulting firm bill to SN Inc. and MR Ltd., respectively, for October?
Grissom Company estimates that variable costs will be 60% of sales, and fixed costs will total$800,000.The selling price of the product is $4.Instructions(a) Prepare a CVP graph, assuming maximum sales of $3,200,000.
Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31
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sphere company produces two products alpha and beta. alpha is a high-volume item totaling 20000 units annually. beta is
Management accounting practice has traditionally focused on techniques to assist organisational decision -making and cost control.
The following assignment is for an advanced auditing class.The textbook used for this class is"Auditing: A risk-based approach to conducting a quality audit" (9th Ed.) by Johnston, Gramling, & Rittenberg. The assignment description is as follows:
a major manufacturer decided to put one of its divisions up for sale because managerial accounting information showed
During 2011, the market price of the common shares averaged $68 per share. Compute Berclair's basic and diluted earnings per share for the year ended December
How did such a situation lead to the demise of the APB and why is the FASB faring somewhat better?
What approach would you use to determine selling price (for example cost plus or target costing)? It is important when choosing a design.
June sales were $6,000 while projected sales for July and August were $8,500 and $7,000, respectively. What are the total expected collections for July
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