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Washington Co. employs ten full-time professionals. The budgeted compensation per employee is $60,000. The maximum billable hours for each client are 400. Clients always receive their full amount of time. All professional labor costs are included in a single direct-cost category and are traced to jobs on a per-hour basis. Any other costs are included in a single indirect-cost pool, allocated according to professional labor-hours. Budgeted indirect costs for the year are $200,000 and the firm had 25 clients.
a. What is the direct-labor-cost rate per hour?
b. What is the indirect-cost rate per hour?
c. What is the total cost incurred to the employer per hour?
d. How will the total cost be affected if the firm loses out on 4 clients?
On May 10, Paige Corporation issues 2,500 shares of $5 par value common stock for cash at $13 per share.Journalize the issuance of the stock.
Provide the details on all legislated payments on termination of employment required for each jurisdiction.- In addition to the required payments on termination, include any employer costs related to the employees' statutory deductions.
Whole Grain Bakery purchases an industrial bread machine for $25,300. What is initial cost of the bread machine?
At the beginning of the period, the Assembly Department budgeted direct labor of $123,500 and property tax of $10,000 for 6,500 hours of production. The department actually completed 7,300 hours of production.
Tim and Sarah Lawrence are married and file a joint return. Tim’s Social Security number is 123-45-6789, and Sarah’s Social Security number is 111-11-1111. They reside at 100. Olive Lane, Covington, LA 70434. They have two dependent children, Sean an..
bell company acquires 80 percent of demers company for 500000 on 1st january 2009. demers reported common stock of
Discuss and contrast the issues surrounding the implementation of a comprehensive internal control structure in a large corporation and in a small family-owned business with only six employees. Your discussion needs to consider the limitations of sys..
Spencer Duck (SSN 000-22-1111) is single and his eight-year-old son, Mitch, lives with him nine months of the year in a rented condominium at 321 Hickory Drive in Ames, Iowa. Mitch lives with his mother, Spencer’s ex-wife, during the summer months. I..
Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. Straight-line depreciation for 2011 and sum-of-the-years'-digits for 2012.
Consider a financial institution which has a possible liability payment of $ 2.5 million at the end of 3 years. The institution is currently considering an investment in a bond portfolio with a view to ensure that it would able to meet the liability ..
During the period, 15,000 units are started and direct materials costing $250,000 are charged to the department. If there are 1,000 units in ending inventory, what is the cost per equivalent unit?
The Wedding Shop (TWS) started the 2013 accounting period with the balances given in the financial statements model shown below. During 2013 TWS expierienced the following business events: Prepare a multistep income statement. Include common size per..
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