![]() (a) Prepare the current liabilities section of Medlen’s December 31, 2017, balance sheet.Pocket prep should be around 80% ideally by the time you take your exam. Legal counsel feels it is probable Medlen will ![]() In addition, Medlen is involved in a lawsuit. The following information was available with respect to this job:ĭirect materials . The firm's actual overhead cost for the year was $ 692, 000 \$ 692,000 $692, 000 and its actual total direct labor was 83,000 hours.ĭuring the year, Tech Solutions started and completed the Xavier Company engagement. The company also estimated $ 680, 000 \$ 680,000 $680, 000 of fixed overhead cost for the coming period and variable overhead of $ 0.50 \$ 0.50 $0.50 per direct labor-hour. At the beginning of the year, it estimated that 80,000 direct labor-hours would be required for the period's estimated level of client service. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. The firm's direct labor includes salaries of consultants that work at the client's job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. ![]() Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. Tech Solutions is a consulting firm that uses a job-order costing system.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |