Koffler Legal & Consulting Services PLLC., provides legal consulting services to businesses in NYC. They follow...

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Koffler Legal & Consulting Services PLLC., provides legal consulting services to businesses in NYC. They follow a job-costing system with a single direct-cost category (professional labor costs) and a single indirect-cost pool (legal administration costs). Actual professional hours are used as allocation base in order to allocate legal administration costs. Koffler Legal & Consulting Services PLLC., currently has 10 lawyers to perform consulting services. Budgeted and actual amounts for 2019 are as follows: Budget for 2019 Koffler Legal & Consulting Services PLLC. Professional labor costs Legal administration costs Professional labor-hours billed to customers Actual Results for 2019 Legal administration costs Professional labor-hours billed to customers Actual professional labor cost rate $990,000 $774,000 18,000 hours $735,000 17,500 $59 per hour 1. Consider (a) actual costing, (b) normal costing, and (c) a mixed costing approach, which is a variation from normal costing where budgeted rates for direct costs are used. For each of the costing approaches mentioned, calculate the direct-cost rate and the indirect-cost rate per professional labor-hour for 2019. 2. Koffler Legal & Consulting Services PLLC.'s provided a legal consulting service to Magnolia Cosmetics at 2019. This job was budgeted to take 150 hours of professional labor time to complete. However, the actual professional labor time spent on the job was found to be 160 hours. Considering this information, compute the cost of the consulting service provided to Magnolia Cosmetics using (a) actual costing, (b) normal costing, and (c) the mixed costing approach, which is a variation from normal costing where budgeted rates for direct costs are used. Explain any differences in the job cost. Koffler Legal & Consulting Services PLLC., provides legal consulting services to businesses in NYC. They follow a job-costing system with a single direct-cost category (professional labor costs) and a single indirect-cost pool (legal administration costs). Actual professional hours are used as allocation base in order to allocate legal administration costs. Koffler Legal & Consulting Services PLLC., currently has 10 lawyers to perform consulting services. Budgeted and actual amounts for 2019 are as follows: Budget for 2019 Koffler Legal & Consulting Services PLLC. Professional labor costs Legal administration costs Professional labor-hours billed to customers Actual Results for 2019 Legal administration costs Professional labor-hours billed to customers Actual professional labor cost rate $990,000 $774,000 18,000 hours $735,000 17,500 $59 per hour 1. Consider (a) actual costing, (b) normal costing, and (c) a mixed costing approach, which is a variation from normal costing where budgeted rates for direct costs are used. For each of the costing approaches mentioned, calculate the direct-cost rate and the indirect-cost rate per professional labor-hour for 2019. 2. Koffler Legal & Consulting Services PLLC.'s provided a legal consulting service to Magnolia Cosmetics at 2019. This job was budgeted to take 150 hours of professional labor time to complete. However, the actual professional labor time spent on the job was found to be 160 hours. Considering this information, compute the cost of the consulting service provided to Magnolia Cosmetics using (a) actual costing, (b) normal costing, and (c) the mixed costing approach, which is a variation from normal costing where budgeted rates for direct costs are used. Explain any differences in the job cost.