Cost Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText -- Access Card Package (15th Edition)
Cost Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText -- Access Card Package (15th Edition)
15th Edition
ISBN: 9780133781106
Author: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
Publisher: PEARSON
Question
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Chapter 4, Problem 4.21E

1.

To determine

To present: An overview diagram of job costing system, and budgeted indirect cost rate.

Given information:

Indirect cost for client support is $13,000,000.

Professional labor cost is $5,000,000.

2.

To determine

To compute: The markup rate as percentage of professional labor cost.

Given information:

Revenue is $20,000,000.

Professional labor cost is $5,000,000.

3.

To determine

To compute: The budgeted cost of job, compute the bid price to earn targeted operating income of 10%.

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