Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 11.00

simplified costing system

Comparisons of a simplified costing system with an activity based system (continuation of E9-5 and E9-6):

Prior to instituting an activity-based costing system, Harris and Whelan, the attorneys in E9-5 and E9-6, utilized a simplified costing system with one direct cost category, professional labor, and one indirect cost category, professional support. The average wage rate for professional labor was $75 per hour, and the overhead rate for professional support was $67.50 per professional labor hour. Compute the job cost for Carolyn Goode, the client in E9-6, using the simplified costing system, and determine the difference between it and the job cost using activity-based costing in E9-6 and discuss the reasons for the difference.

E9-5

Computing activity-based costing rates:

The partners of Harris and Whelan, attorneys-at-law, decide to implement an activity-based costing system for their firm. They identify the following three cost pools and budgeted amounts for each for the coming year: fringe benefits, $450,000; paralegal support, $250,000; and research support, $650,000. It is determined that the best cost driver for fringe benefits is professional labor dollars ($1,500,000); paralegal support is partner labor hours (4,000); and research support is professional labor hours (20,000). Compute the budgeted overhead rates for each of the three cost pools.

E9-6

Job cost for a client (continuation of E9-5):

 A client, Carolyn Goode, requires 10 partner labor hours and 25 professional associate hours from Harris and Whelan, the law firm in E9-5. Partners are paid $125 per hour, and associates make $60 per hour. Compute the job cost of servicing Carolyn Goode.

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 11:08 PM My Price 11.00

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