The direct and indirect cost rate per professional labor hour under (a) actual costing. Given information: 2014, Actual direct cost is $285,000. Actual indirect cost is $159,600. Actual labor hour is 11,400.

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Answer 1

Question

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

(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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

(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 solution from part a, b and c above.

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

(b)

To determine

To compute: The cost of G school job using normal costing.

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

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Brightway Corporation began using the allowance method in 2020. On January 1, 2020, Brightway had a $5,000 balance in the accounts receivable account and a zero balance in the allowance for doubtful accounts. During 2020, Brightway provided $30,000 of services on account. The company estimated that 4% of ending accounts receivable would be uncollectible. By the end of 2020, customers had paid $26,000 on their accounts. What is the balance in Brightway Corporation's Allowance for Doubtful Accounts at December 31, 2020?

Please provide the correct answer to this general accounting problem using valid calculations.

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Answer 2

Question

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

(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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

(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 solution from part a, b and c above.

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

(b)

To determine

To compute: The cost of G school job using normal costing.

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

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See solution

Answer 3

Question

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

(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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

(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 solution from part a, b and c above.

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

(b)

To determine

To compute: The cost of G school job using normal costing.

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

(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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

(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 solution from part a, b and c above.

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

(b)

To determine

To compute: The cost of G school job using normal costing.

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

(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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

(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 solution from part a, b and c above.

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

(b)

To determine

To compute: The cost of G school job using normal costing.

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Answer 6

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

Answer 7

Chapter 4, Problem 4.29E

(1)(a)

To determine

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

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 $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.

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 solution from part a, b and c above.

Answer 13

2.

To determine

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

Answer 14

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

Answer 15

(3)(a)

To determine

To compute: The cost of G school job using actual costing.

Answer 16

(b)

To determine

To compute: The cost of G school job using normal costing.

Answer 17

(b)

To determine

To compute: The cost of G school job using normal costing.

Answer 18

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Answer 19

(c)

To determine

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Answer 20

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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 (a) actual costing. Given information: 2014, Actual direct cost is $285,000. Actual indirect cost is $159,600. Actual labor hour is 11,400.

To compute: The direct and indirect cost rate per professional labor hour under (a) actual costing. Given information: 2014, Actual direct cost is $285,000. Actual indirect cost is $159,600. Actual labor hour is 11,400.

To compute: The direct and indirect cost rate per professional labor hour under normal costing. Given information: 2014, Budgeted direct cost is $273,000. Budgeted indirect cost is $157,500. Budgeted labor hour is 10,500.

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 solution from part a, b and c above.

To compute: The cost of G school job using actual costing.

To compute: The cost of G school job using normal costing.

To compute: The cost of G school job using the variation from normal costing that uses budgeted rates.

Want to see the full answer?

Chapter 4 Solutions

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

Given information:

2014,

Actual direct cost is $285,000.

Actual indirect cost is $159,600.

Actual labor hour is 11,400.

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

Given information:

2014,

Budgeted direct cost is $273,000.

Budgeted indirect cost is $157,500.

Budgeted labor hour is 10,500.