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King Company is a consulting firm. The firm expects to have $51,000 in indirect costs...

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Accounting

King Company is a consulting firm. The firm expects to have $51,000 in indirect costs during the year and bill customers for 8,000 hours. The cost of direct labor is $67 per hour.

16.

Calculate the predetermined overhead allocation rate for

King

using estimated billable hours for the allocation base.

17.

King

completed a consulting job for

John

McClurg

and billed the customer for

19

hours. What was the total cost of the consulting job?

18.

If

King

wants to earn a profit equal to

80%

of the cost of a job, how much should the company charge Mr.

McClurg?

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