PLEASE ANSWER ALL! THANK YOU! The law firm of Prawitt and Bradford accumulates costs...
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Accounting
PLEASE ANSWER ALL! THANK YOU!
The law firm of Prawitt and Bradford accumulates costs associated with individual cases, using job order costing. The following transactions occurred during August: August 3. Charged 540 hours of professional (lawyer) time to the Shadow Creek Co. breech of contract suit to prepare for the trial, at a rate of $180 per hour. 10. Reimbursed travel costs to employees for depositions related to the Shadow Creek case, $18,100. 14. Charged 310 hours of professional time for the Shadow Creek trial at a rate of $250 per hour. 18. Received invoice from consultants Westerly and Henninger for $77,000 for expert testimony related to the Shadow Creek trial. 27. Applied office overhead at a rate of $45 per professional hour charged to the Shadow Creek case. 31. Paid administrative and support salaries of $27,200 for the month. 31. Used office supplies for the month, $9,200. 31. Paid professional salaries of $181,600 for the month. 31. Billed Shadow Creek $352,100 for successful defense of the case. b. How much office overhead is over- or underapplied? Enter your answer as a positive number. 3 c. Determine the gross profit on the Shadow Creek case, assuming that over-or underapplied office overhead is closed monthly to cost ofGet Answers to Unlimited Questions
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