Jonas and Partners, a law firm, worked on a total of 1,000 cases this month, 800 of which were completed during the period. The remaining cases were 40% complete. The firm incurred $180,000 in direct labor and overhead costs during the period and had $4,800 in direct labor and overhead costs in beginning inventory. Using the weighted average method, what was the total cost of cases completed during the period? a) $16,800 b) $17,520 c) $168,000 d) $175,200
Jonas and Partners, a law firm, worked on a total of 1,000 cases this month, 800 of which were completed during the period. The remaining cases were 40% complete. The firm incurred $180,000 in direct labor and overhead costs during the period and had $4,800 in direct labor and overhead costs in beginning inventory. Using the weighted average method, what was the total cost of cases completed during the period? a) $16,800 b) $17,520 c) $168,000 d) $175,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Jonas and Partners, a law firm, worked on a total of
1,000 cases this month, 800 of which were completed
during the period. The remaining cases were 40%
complete. The firm incurred $180,000 in direct labor and
overhead costs during the period and had $4,800 in
direct labor and overhead costs in beginning inventory.
Using the weighted average method, what was the total
cost of cases completed during the period?
a) $16,800
b) $17,520
c) $168,000
d) $175,200
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