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BK Consulting is a management consulting firm. Other than the senior leadership (who manage the firm, but do not actively consult), the managers and staff are billed to clients on an hourly basis. The workload varies quite a bit from month to month requiring careful planning. Managers are billed to clients at a rate of $800 per hour and staff at a rate of $400 per hour. Managers are paid $200 per hour worked (including non-billable time) and Staff are paid $100 per hour. The current plan calls for managers to bill 800 hours in May and 500 hours in June. Staff are expected to bill 4,800 hours in May and 3,000 hours in June. Managers will work a total of 1,600 hours in both months and staff will work a total of 6,400 hours in both months. Other monthly costs (all fixed) are $500,000 SG & A, $200,000 in depreciation and $300,000 in marketing.Required:Prepare a budgeted income statement for BK Consulting for May and June (separately).
In brief describe and draw a diagram of the cost accumulation process for a traditional manufacturing company.
Joe's Pizzeria was the only delivery based pizza chain serving a small college town for more than 20 years.
You have been provided with a list of budgeted costs and asked to devide them into two different cost pools as part of your accounting process. You use the ABC method and accummulate costs into logical cost pools. The list of costs need to be divided..
the wilcox company sells 2 products a and b with contribution margin ratios of 40 and 30 and selling prices of of 5.00
The purpose of the study defines what the researcher wants to find out and is found in the introductory section of the research article. Sometimes the purpose contains a research questions.
Determine the ending finished goods inventory. What was the cost of indirect labor? What was the amount of factory overhead applied? Determine total manufacturing costs incurred during 2007. What was the cost of good manufactured?
Calculate Coffee Mill's Cash Conversion Cycle. If Coffee Mill were to shorten its inventory conversion period by 10 days, what effect would this have on the Cash Conversion Cycle? What effect (in dollars) would (b) have on Coffee Mill's total worki..
Write a 300 to 500 word paper on strengths and weaknesses of the different methods involved in creating a qualitative forecast (methods: Jury of Executive Opinion, Delphi Method, Sales Force Composite and Consumer Survey).
Prepare a contribution format income statement and compute the degree of operating leverage.c. If you were a member of top management, would you have been in favor of constructingthe new plant?
Calculate the cost per equivalent unit for each of the 3 cost items and in total. Calculate the cost of items completed in Aug and the cost of ending work in process inventory. Reconcile the sum of the 2 costs in part b to the sum of beginning WIP an..
Prepare the correct trial balance, assuming all accounts have normal balances and trial balance of Lagerstrom Company
Daniele Corporation uses an activity-based costing system with the three activity cost pools - find the activity rate for the Fabrication activity cost pool
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