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Maria Miller, the bookkeeper for Sheridan, Sunland, and Sipacore, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2022: Supplies used on consulting contracts $2,650 Supplies used in the administrative offices 2,400 Depreciation on equipment used for contract work 1,030 Depreciation used on administrative office equipment 1,300 Salaries of professionals working on contracts 15,800 Salaries of administrative office personnel 7,800 Janitorial services for professional offices 560 Janitorial services for administrative offices 680 Insurance on contract operations 860 Insurance on administrative operations 960 Utilities for contract operations 1,920 Utilities for administrative offices 1,420 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month.

Maria Miller, the bookkeeper for Sheridan, Sunland, and Sipacore, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2022: Supplies used on consulting contracts $2,650 Supplies used in the administrative offices 2,400 Depreciation on equipment used for contract work 1,030 Depreciation used on administrative office equipment 1,300 Salaries of professionals working on contracts 15,800 Salaries of administrative office personnel 7,800 Janitorial services for professional offices 560 Janitorial services for administrative offices 680 Insurance on contract operations 860 Insurance on administrative operations 960 Utilities for contract operations 1,920 Utilities for administrative offices 1,420 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month.

FINANCIAL ACCOUNTING
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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Maria Miller, the bookkeeper for Sheridan, Sunland, and Sipacore, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2022: Supplies used on consulting contracts $2,650 Supplies used in the administrative offices 2,400 Depreciation on equipment used for contract work 1,030 Depreciation used on administrative office equipment 1,300 Salaries of professionals working on contracts 15,800 Salaries of administrative office personnel 7,800 Janitorial services for professional offices 560 Janitorial services for administrative offices 680 Insurance on contract operations 860 Insurance on administrative operations 960 Utilities for contract operations 1,920 Utilities for administrative offices 1,420 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month.
Transcribed Image Text:Maria Miller, the bookkeeper for Sheridan, Sunland, and Sipacore, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2022: Supplies used on consulting contracts $2,650 Supplies used in the administrative offices 2,400 Depreciation on equipment used for contract work 1,030 Depreciation used on administrative office equipment 1,300 Salaries of professionals working on contracts 15,800 Salaries of administrative office personnel 7,800 Janitorial services for professional offices 560 Janitorial services for administrative offices 680 Insurance on contract operations 860 Insurance on administrative operations 960 Utilities for contract operations 1,920 Utilities for administrative offices 1,420 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month.
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