Please do not give solution in image format thanku 8. ABC Construction recorded the following data during2022:Total Direct Cost: $62,482,612 and their generaloverhead was $649,472For 2023, the company expects the followingaccounting data as its forecast for the contracts alreadysigned:Labor Cost $4,382,397Equipment Cost $18,682,140Materials Cost $10,412,879Consultants Fees $680,320Utilities $280,614Real Estate Lease $60,000Legal and Marketing Consultants Fees $380,412Appraised Equipment $14,687,395How much should the company charge in overheadexpenses for 2023?$865,318$618,843$2,316,459$1,038,495$1,212,182

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How much should the company charge in overhead expenses for 2023?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Please do not give solution in image format thanku

8. ABC Construction recorded the following data during
2022:
Total Direct Cost: $62,482,612 and their general
overhead was $649,472
For 2023, the company expects the following
accounting data as its forecast for the contracts already
signed:
Labor Cost $4,382,397
Equipment Cost $18,682,140
Materials Cost $10,412,879
Consultants Fees $680,320
Utilities $280,614
Real Estate Lease $60,000
Legal and Marketing Consultants Fees $380,412
Appraised Equipment $14,687,395
How much should the company charge in overhead
expenses for 2023?
$865,318
$618,843
$2,316,459
$1,038,495
$1,212,182

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