90.2K

Verified Solution

Link Copied!

Suraya Collier, the bookkeeper for Danner, Letourneau, and Majewski, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-o company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2020: Supplies used on consulting contracts $3,050 Supplies used in the administrative offices 2400 Depreciation on equipment used for contract work 940 Depreciation used on administrative office equipment 1.250 Salaries of professionals working on contracts 15,700 Salaries of administrative office personnel 7.800 Janitorial services for professional offices 300 Janitorial services for administrative offices 740 Insurance on contract operations 860 Insurance on administrative operations 1.200 Utilities for contract operations 1.960 Utilities for administrative offices 1.360 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month DANNER, LETOURNEAU, AND MAJEWSKI Schedule of Cost of Contract Services Provided For the Month Ended August 31, 2020 5 V V un

Answer & Explanation Solved by verified expert

See Answer