Cost accumulation; assigning costs to jobs 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 $1,530 Direct material Direct labor hours. $864 $15,840 $6,660 40 90 70 15 Estimated court hours. 12 65 120 40 Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342. a. Determine the total cost assigned to each case as of March 31. Case #1 Case #2 0 x $ Case #3 0 x $ Case #4 0 x Total cost $ 0 x $ b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHS, 72 had been spent in court. Taub & Lawson's 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. $0 X
Cost accumulation; assigning costs to jobs 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 $1,530 Direct material Direct labor hours. $864 $15,840 $6,660 40 90 70 15 Estimated court hours. 12 65 120 40 Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342. a. Determine the total cost assigned to each case as of March 31. Case #1 Case #2 0 x $ Case #3 0 x $ Case #4 0 x Total cost $ 0 x $ b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHS, 72 had been spent in court. Taub & Lawson's 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. $0 X
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Cost accumulation; assigning costs to jobs
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
Direct labor hours
$864 $15,840 $6,660 $1,530
15
40
70
Estimated court hours
12
120
40
Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342.
a. Determine the total cost assigned to each case as of March 31.
Case #1
Case #2
0 x $
Case #3
0X $
Total cost $
90
65
x $
Case #4
0 x
b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72
had been spent in court. Taub & Lawson's 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.
$0
X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fabdc0444-b808-4272-996a-623f3c1bff0d%2F90fb8fbb-6480-4aa2-bfd6-c92197c99d15%2Fplvv42_processed.png&w=3840&q=75)
Transcribed Image Text:Cost accumulation; assigning costs to jobs
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
Direct labor hours
$864 $15,840 $6,660 $1,530
15
40
70
Estimated court hours
12
120
40
Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342.
a. Determine the total cost assigned to each case as of March 31.
Case #1
Case #2
0 x $
Case #3
0X $
Total cost $
90
65
x $
Case #4
0 x
b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72
had been spent in court. Taub & Lawson's 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.
$0
X
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
![Cost accumulation; assigning costs to jobs
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
$864 $15,840 $6,660 $1,530
40
12
Direct material
Direct labor hours
Estimated court hours
Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342.
Total cost $
90
65
70
120
15
40
a. Determine the total cost assigned to each case as of March 31.
Case #1
Case #2
Case #3
Case #4
3,240 x $ 17,550 * $ 32,400 x $ 10,800 ×
b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72
had been spent in court. Taub & Lawson's 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.
$ 140,835.6
X](https://content.bartleby.com/qna-images/question/abdc0444-b808-4272-996a-623f3c1bff0d/cdb2f7d1-607f-4c19-8f64-cf1c274f3833/5he6m2k_thumbnail.png)
Transcribed Image Text:Cost accumulation; assigning costs to jobs
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
$864 $15,840 $6,660 $1,530
40
12
Direct material
Direct labor hours
Estimated court hours
Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342.
Total cost $
90
65
70
120
15
40
a. Determine the total cost assigned to each case as of March 31.
Case #1
Case #2
Case #3
Case #4
3,240 x $ 17,550 * $ 32,400 x $ 10,800 ×
b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72
had been spent in court. Taub & Lawson's 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.
$ 140,835.6
X
Solution
Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education