(20 journal entry spots)

Instructions The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July Jul. 3 10 14 18 Charged 170 hours of professional (lawyer) time at a rate of $156 por hour to the Obsidian Co brooch of contract suilt to prepare for the trial Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,350 Charged 270 hours of professional time for the Obsidian trial at a rate of $185 per hour Received invoice from consultants Wadsley and Harden for $30,550 for expert testimony related to the Obsidian trial Applied office overhead at a rate of $59 por professional hour charged to the Obsidian case Paid administrative and support salaries of $28,410 for the month Used office supplies for the month, S4,230 Paid professional salaries of $76,300 for the month Billed Obsidian $192.200 for successful defense of the case 27 31 31 31 31 PAGE 10 JOURNAL 1 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEDIT CREDIT ASSETS LIABILITIES EQUITY 2 1 4 3 Final Questions b. How much office overhead is over- or underapplied? c. Determine the gross profit on the Obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services