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LaPlatt & Associates is an accounting firm that provides audit, tax, and accounting services to medium-size retail companies. it employs 50 professionals (10 partners and 40 associates) who work directly with clients. the average expected total compensation per professional for the year is $120,000. The services of LaPlatt are in high demand, and each professional work for clients to their maximum of 1,600 billable hours. All professional salaries are traced to individual clients summaries. All cost other than Professional salaries are included in a single indirect cost pool (professional support). The indirect costs are assigned to service summaries using professional hours as the allocation base. The expected amount of indirect cost for the year is $5,200,000. Required a. compute the budgeted indirect cost rate per hour of professional service. b. LaPlatt & Associates is bidding on tax and audit service for a potential client that are expected to require 100 hours of professional service time. Calculate the estimated cost of the work using average professional wage rates and basing indirect cost on estimated srevice time.
Compute the project's net present value and evaluate the project's internal rate of return to the nearest whole percent.
Calculation of requirement of cash to be maintained and The Wallace Company must maintain a minimum cash balance of $30,000. At the beginning of February the company's cash balance was $50,000.
Leo Lion Corporation incurred manufacturing wages of $17,000, 55% of which were direct labor charges and 45% indirect labor charges. In a single journal entry give the journal entry to record the direct and indirect labor incurred.
Richard operates a hair styling boutique out of his home. 300 of the 1,200 square feet of floor space are allocated to the boutique. Other information. Illustrate w hat amount of income or loss from the boutique should Richard show on his return
Preparation of trial balance, Income statements and Balance sheet and Prepare a statement of financial position (balance sheet) as of December 31
In your opinion could the unrealized gains on the investment held in the special revenue fund be nonexpendable or expendable. How is the transfer from the permanent fund to the particular revenue fund reported in the government-wide statements
Evaluate the Cost of Job order costing system and The company made the following estimates at the beginning of the current year.
Which of above items are relevant in a decision of whether to sell X-47 as is or process it further into Xylene?
Collections of accounts receivable that previously have been written off and Which of the following do not change the balance in Accounts receivable
the company plans on paying a constant $0.75 a share annual dividend indefinitely. Explain how much are you willing to pay to buy a share of this stock today if your required return is 11.6 percent?
How many tickets must be sold for the more deluxe event in order for it to yield the same profit as the original plan?
Calculation of Labor Variances and direct materials and direct labor data pertain to the operations of Solario Manufacturing Company for the month of August
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