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Kind, Meek, and Clean, attorneys-at-law, specialize in three areas: criminal, civil, and family law. When specifications for a new computer system were established, the partners agreed to allocate usage based on each department's needs. Criminal law division needed 60% of the capacity, civil law 25%, and family law 15%. Variable costs for the computer department would be allocated on the number of computer minutes each division used. The computer department's budgeted fixed costs are $700,000, and the budgeted variable costs $150,000. The firm estimates that 400,000 minutes of computer time will be used year. What amount of the computer department's fixed costs will be allocated to the civil and family law divisions, respectively? (Compute cost allocation rates to 3 significant digits.)
Suppose Sandy sales 1,000 posters. Her average sale price is $32 and her average cost for posters is $12. her fixed expenses total $12,000
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Assume that Ortega closes underapplied or overapplied overhead into cost of goods sold. What is the final (i.e adjusted) balance in cost of goods sold?
prepare a three-page memo at least 300 words per page to john and jane smith addressing the issues presented1. john
He subdivides the land and installs streets and sewers at a cost of $100,000. What is Levi's basis for the land and the improvements?
1. determine at least one 1 issue that can result when you dispose of depreciable business property. assess the key
Would the answers to Part a change if the accounting firm reimburses Roberta for these expenses?
Discussing the case or legislative history
What is the acquisition cost of each asset? Prepare a journal entry to record the acquisition. Danny plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2010 on these newl..
a donor pledged 100000 to the fund raising drive of a local government to assist its police officers in obtaining the
john corp appropriately uses the installment method of accounting to recognize income in its financial statements.
Assume that the real risk-free rate, r, is 3 percent and that inflation is expected to be 8 percent in Year 1, 5 percent in Year 2 and 4 percent thereafter.
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