answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
spin [16.1K]
2 years ago
12

Barrett ​Associates, a law​ firm, hires Attorney Sandra Trent at an annual salary of $ 85 comma 000. The law firm expects her to

spend 1 comma 700 hours a year performing legal work for clients. Indirect costs are assigned to clients based on attorney billing hours. Firm attorneys are expected to work a total of 12 comma 000 direct labor hours this year. Before the fiscal year​ begins, Barrett estimates that the total indirect costs for the upcoming year will be $ 360 comma 000.
Requirements
1. What would be the hourly (cost) rate to Gallagher Associates of employing Nault?
2. If Nault works on Client 367 for 17 hours, what direct labor cost would be traced to Client 367
3. What is the indirect cost allocation rate?
4. What indirect costs will be allocated to Client 367?
5. What is the total job cost for Client 367?
Business
1 answer:
netineya [11]2 years ago
6 0

Answer:1.$50/hr

2. $850

3.$30

4.$510

5.$1360

Explanation:

1. Hourly rate= Total annual salary/Number of hours worked

$85,000/1,700 hours=$50/hour.

2. Direct labour cost for client 367 = Hourly(required 1)× Number of hours billed

$50/hour × 17 hours= $850

3. Indirect cost allocation rate = Total indirect costs/ Total number of billed hours

$360,000/12,000 hours= $30/hour

4. Indirect costs allocated to client= Indirect cost allocation rate × Number of attorney billing hours

$30 (from required 3) × 17 hours = $510.

5. Total job cost = direct costs + indirect costs allocated

850 + 510 = 1360.

Enjoy

You might be interested in
Roberta is a customer service representative at a car rental company. Read the passage. Which actions might lead to increased cu
pochemuha

Answer:

Training

Explanation:

Learning within a workgroup is the only way to improve performance. An outstanding representative as Roberta needs to transfer her skills to the rest of the team. One strategy to accomplish that is naming her as responsible for on-board training for the new teamates.

Another strategy is to use surveys after the calls to know what are the opinions of clients regarding services. It allows to identify improvement opportunities.

3 0
2 years ago
For each of the following independent events, identify the account that would be debited and the account that would be credited.
My name is Ann [436]

Answer:

A. Received cash by issuing common stock

Debit: Cash

Credit: common stock

B. Received cash for services to be performed in the future.

Debit: Cash

Credit: unearned revenue.

C. Paid salaries payable

Debit: salaries payable

Credit: cash

D. Provided services on account.

Debit: accounts receivable

Credit: service revenue

E. Paid cash for operating expenses

Debit: operating expenses

Credit: cash

Explanation:

A. Received cash by issuing common stock

Debit: Cash

Credit: common stock

B. Received cash for services to be performed in the future.

Debit: Cash

Credit: unearned revenue.

C. Paid salaries payable

Debit: salaries payable

Credit: cash

D. Provided services on account.

Debit: accounts receivable

Credit: service revenue

E. Paid cash for operating expenses

Debit: operating expenses

Credit: cash

6 0
1 year ago
If you are alone in heavy expressway traffic at rush hour, use the _________ to avoid vehicles constantly entering and exiting i
Sunny_sXe [5.5K]

If you are alone in heavy expressway traffic at rush hour, use the middle lane to avoid vehicles constantly entering and exiting your path. If the lanes are three wide, using the middle lane allows you to move easily in either direction. If the road only has two lanes, it’s best to be in the left lane to avoid in coming traffic.

4 0
1 year ago
Atlas Company plans to sell 145,000 units in November and 190,000 units in December. Atlas's policy is that 15% of the following
r-ruslan [8.4K]

Answer:

Option (b) is correct.

Explanation:

Given that,

Sales =  145,000 units

Desired ending inventory =   28,500 units

Beginning inventory =  21,750

Budgeted production in units for November:

= Sales + desired ending inventory - Beginning inventory

= 145,000 units + (190,000 × 15%) - 21,750

=  145,000 units + 28,500 - 21,750

= 151,750 units

8 0
2 years ago
Retirement Investment Advisors, Inc., has just offered you an annual interest rate of 4.1 percent until you retire in 45 years.
grigory [225]

Answer:

If you wait one year, in 45 years you will have $16,624.04 more than investing today.

Explanation:

Giving the following information:

Option 1:

Initial investment= $11,500

Number of years= 45

Interest rate= 4.1%

Option 2:

Initial investment= $11,500

Number of years= 44

Interest rate= 4.7%

To calculate the future value for both options, we need to use the following formula:

FV= PV*(1+i)^n

<u>Option 1:</u>

FV= 11,500*(1.041^45)= $70,142.41

<u>Option 2:</u>

FV= 11,500*(1.047^44)

FV= $86,766.45

If you wait one year, in 45 years you will have $16,624.04 more than investing today.

7 0
2 years ago
Other questions:
  • Edge inc. manufactures new, advanced camera cars and tracking vehicles used in filmmaking. the demand for these products has bee
    6·2 answers
  • The most desirable bundle of rights in time-sharing gives the buyer privileges to rent or sell the interest in the property. the
    11·2 answers
  • Piper​ Corporation, which manufactures dog​ toys, is developing direct labor standards. The basic direct labor rate is​ $16.79 p
    12·2 answers
  • Kesterson Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.20 Direct labor
    12·1 answer
  • When the price of chai tea lattés is $5, maxine buys 20 per month. when the price is $4, she buys 30 per month. maxine's demand
    7·1 answer
  • On August 1, Year 1, Ant Company sold Bee Company $1,500,000 of 10-year, 6% bonds, dated July 1 at 100 plus accrued interest. On
    11·1 answer
  • The process of attracting individuals on a timely basis, in sufficient numbers, and with appropriate qualifications, to apply fo
    6·1 answer
  • It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue production of shirts to focus on
    7·1 answer
  • On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following trans
    8·1 answer
  • Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginnin
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!