law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. sactions occurred during July: July 3. Charged 700 hours of professional (lawyer) time at a rate of $190 per hour to the Obsidian Co. breech 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $24,100 14. Charged 280 hours of professional time for the Obsidian trial at a rate of $260 per hour 18. Received invoice from consultants Wadsley and Harden for $71,000 for expert testimony related to the O 27. Applied office overhead at a rate of $75 per professional hour charged to the Obsidian case 31. Paid administrative and support salaries of $52,200 for the month

law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. sactions occurred during July: July 3. Charged 700 hours of professional (lawyer) time at a rate of $190 per hour to the Obsidian Co. breech 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $24,100 14. Charged 280 hours of professional time for the Obsidian trial at a rate of $260 per hour 18. Received invoice from consultants Wadsley and Harden for $71,000 for expert testimony related to the O 27. Applied office overhead at a rate of $75 per professional hour charged to the Obsidian case 31. Paid administrative and support salaries of $52,200 for the month

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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