Want Answer Data concerning three of the activity cost pools of SalcidoLLC, a legal firm, have been provided below:Total Cost Total ActivityResearching legal issues $25,030 720 research hoursActivity Cost PoolMeeting with clientsPreparing documentspool is$1,653,027 8,391 meeting hours$97,3906,910 documentsThe activity rate for the "meeting with clients" activity cost

Step-by-Step Explanation Given the belowActivity Cost PoolTotal CostTotal ActivityResearching legal…

Answered: Data concerning three of the activity…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter9: Operating Activities

Section: Chapter Questions

Problem 16PC

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Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Total Activity 740 research hours 7,453 meeting hours 5,840 documents Activity Cost Pool Researching legal issues Meeting with clients Preparing documents. The activity rate for the "meeting with clients activity cost pool is closest to: Multiple Choice $95 per meeting hour $74 per meeting hour $169 per meeting hour O $1,259,557 per meeting hour Total Cost $ 21,980 $ 1,259,557 $ 93,340
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Salvatore LLC provides a wide variety of legal services and uses an activity-based costing system. Data from its activity-based costing system for all services follows: Activity cost pool Total cost Total activity Research $173,200 6200 Hours of paralegal time Client meetings $345,300 3900 Number of meeting hours Court filing fees $303,500 1600 Number of cases Document preparation $145,600 4900 Number of documents The cost pool activity rate for client meetings is Question 17 options: $88.54 per meeting hour. $7.08 per meeting hour. $58.29 per meeting hour. $27.94 per meeting hour.
! Required information Sunrise Accounting provides basic tax services and "rent-a-controller" accounting services. Sunrise has identified three activity pools, the related costs per pool, the cost driver for each pool, and the expected use for each pool. Activity Transportation costs Electronic processing Office support Transportation costs Electronic processing Office support Total Overhead $ Total Activity Cost $50,000 Mileage 75,000 Processing hours 20,000 $ Cost Driver Using activity proportions, determine the amount of overhead assigned to Controller Services. (Do not round intermediate calculations.) 25 75 12 112 Administrative hours Expected Tax Services Usage 5,000 miles 20,000 hours 3,500 hours Expected Controller Services Usage 35,000 miles 30,000 hours 1,500 hours
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Question: 56 Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Total Cost Total Activity Activity Cost Pool Researching legal issues $23,030 810 research hours Meeting with clients Preparing documents $1,336,368 $94,390 7,593 meeting hours 5,910 documents The activity rate for the "meeting with clients" activity cost pool is:
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Required information Sunrise Accounting provides basic tax services and "rent-a-controller" accounting services. Sunrise has identified three activity pools, the related costs per pool, the cost driver for each pool, and the expected use for each pool. Activity Transportation costs Electronic processing office support Activity Transportation costs Electronic processing Office support Total overhead assigned Total Activity Cost Cost Driver $50,000 Mileage $ 75,000 Processing hours $ 20,000 Administrative hours. Required: Barry Gold, a tax client of Sunrise Accounting, requires 20 miles of transportation, 50 hours of processing time, and 3 hours of office support, determine the amount of overhead assigned to Barry Gold. Note: Round your intermediate calculations to 2 decimal places and your final answers to the nearest dollar amount. Allocated Overhead $ Expected Tax Services Usage 5,000 miles 20,000 hours 3,500 hours Expected Controller Services Usage 35,000 miles 30,000 hours 1,500…
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Lily Accounting performs two types of services, Audit and Tax. Lily's estimated overhead costs consist of computer support, $312000; and legal support, $153000. Information on the two services and their estimated use of cost drivers is as follows: Direct labor cost CPU minutes Legal hours used Audit Tax $50000 $100000 O $3744 O $5097 O $5544 O $3897 40000 200 10000 800 Lily Accounting performs tax services for Cathy Lane. Direct labor cost is $1200, 600 CPU minutes were used; and 1 legal hour was used. What is the total cost of the Lane job using ABC?
When a company has post-acquisition expenditures related to Property, Plant, and Equipment it must determine whether the amount should be expensed as an ordinary repair or capitalized as a major repair, addition, or betterment. This requires considering the nature of the expenditure and the use of judgment. Many companies use a threshold amount. Any expenditure below the threshold is expensed. Items over the threshold are examined and a decision is made about whether to expense or capitalize the item. This approach is justified by both materiality and considering costs and benefits. For example, a company with $94 million in net property, plant, and equipment and $250 million of operating expenses would not consider a $100 repair as material. Plus, if the company had to spend thousands of dollars examining every repair expenditure, the costs of doing the analysis could easily outweigh the benefits. SouthEast Equipment has a large number of machines and equipment that are available for…

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