The law firm of Taub & Lawson, LLP, currently has four cases in process. Following...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information related to those cases as of the end of March:
Case #1
Case #2
Case #3
Case #4
Direct material
$1,152
$21,120
$8,880
$2,040
Direct labor hours
40
90
70
15
Estimated court hours
12
65
120
40
Taub & Lawson allocates overhead to cases based on a predetermined rate of $360 per estimated court hour. The charge for direct labor each hour is $456.
a. Determine the total cost assigned to each case as of March 31.
Case #1
Case #2
Case #3
Case #4
Total cost
Answer
Answer
Answer
Answer
b. Case #3 was completed at the end of April. At that time, $24,240 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72 had been spent in court. Taub & Lawsons policy is to charge clients actual costs plus 45 percent. What amount will be billed to the client involved in Case #3? Note: Round your final answer to the nearest whole dollar. $Answer
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
