The direct and indirect cost rate per professional labor hour under actual costing. Given information: 2014, Actual indirect cost is $744,000. Actual labor hour is 15,500.

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Answer 1

Question

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

2.

To determine

To explain: The job costing system for C from part a, b and c above.

3.

(a)

To determine

To compute: The cost of audit using actual costing.

(b)

To determine

To compute: The cost of audit using normal costing.

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

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Answer 2

Question

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

2.

To determine

To explain: The job costing system for C from part a, b and c above.

3.

(a)

To determine

To compute: The cost of audit using actual costing.

(b)

To determine

To compute: The cost of audit using normal costing.

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

2.

To determine

To explain: The job costing system for C from part a, b and c above.

3.

(a)

To determine

To compute: The cost of audit using actual costing.

(b)

To determine

To compute: The cost of audit using normal costing.

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

2.

To determine

To explain: The job costing system for C from part a, b and c above.

3.

(a)

To determine

To compute: The cost of audit using actual costing.

(b)

To determine

To compute: The cost of audit using normal costing.

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Expert Solution & Answer

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See solution

Answer 5

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

2.

To determine

To explain: The job costing system for C from part a, b and c above.

3.

(a)

To determine

To compute: The cost of audit using actual costing.

(b)

To determine

To compute: The cost of audit using normal costing.

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Answer 6

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

Answer 7

Chapter 4, Problem 4.28E

(1)(a)

To determine

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

Answer 8

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

Answer 9

(b)

To determine

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.

Answer 10

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

Answer 11

(c)

To determine

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

Answer 12

2.

To determine

To explain: The job costing system for C from part a, b and c above.

Answer 13

2.

To determine

To explain: The job costing system for C from part a, b and c above.

Answer 14

3.

(a)

To determine

To compute: The cost of audit using actual costing.

Answer 15

3.

(a)

To determine

To compute: The cost of audit using actual costing.

Answer 16

(b)

To determine

To compute: The cost of audit using normal costing.

Answer 17

(b)

To determine

To compute: The cost of audit using normal costing.

Answer 18

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Answer 19

(c)

To determine

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

Answer 20

Expert Solution & Answer

Answer 21

Expert Solution & Answer

Answer 22

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Answer 23

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The direct and indirect cost rate per professional labor hour under actual costing. Given information: 2014, Actual indirect cost is $744,000. Actual labor hour is 15,500.

To compute: The direct and indirect cost rate per professional labor hour under actual costing. Given information: 2014, Actual indirect cost is $744,000. Actual labor hour is 15,500.

To compute: The direct and indirect cost rate per professional labor hour under normal costing. Given information: 2014, Budgeted direct cost is $960,000. Budgeted indirect cost is $720,000. Budgeted labor hour is 16,000.

To compute: The direct and indirect cost rate per professional labor hour under variation from normal costing.

To explain: The job costing system for C from part a, b and c above.

To compute: The cost of audit using actual costing.

To compute: The cost of audit using normal costing.

To compute: The cost of audit using variation from normal costing that uses budgeted rates.

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Chapter 4 Solutions

To compute: The direct and indirect cost rate per professional labor hour under actual costing.

Given information:

2014,

Actual indirect cost is $744,000.

Actual labor hour is 15,500.

To compute: The direct and indirect cost rate per professional labor hour under normal costing.

Given information:

2014,

Budgeted direct cost is $960,000.

Budgeted indirect cost is $720,000.

Budgeted labor hour is 16,000.