Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 03, 2023

Company X has 3 product lines, A, B & C with the following monthly revenue streams: $10,000, $20,000 & $40,000 respectfully. The company's legal department

Company "X" has 3 product lines, A, B & C with the following monthly revenue streams: $10,000, $20,000 & $40,000 respectfully.

The company's legal department incurred $60,000 in costs for the month of July, based on billable hours as follows:

Product A - 500 hours;

Product B - 500 hours;

Product C - 1000 hours.

Using the "cause & effect" criteria, how much legal costs should be charged to Product C for the month of July?

Step by Step Solution

★★★★★

3.46 Rating (162 Votes )

There are 3 Steps involved in it

Step: 1

To determine how much legal costs should be charged to Product C using ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial accounting

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

1st edition

471467855, 978-0471467854

More Books

Students also viewed these Accounting questions

Question

★★★★★

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Answered: 1 week ago

Question

★★★★★

The Omega Corporation sells two different lines of bathroom fixtures: standard and deluxe. Omega began its operations in the eastern part of the United States and recently expanded its operations to...

Answered: 1 week ago

Question

★★★★★

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...

Answered: 1 week ago

Question

★★★★★

There are 38 numbers in the game of roulette. They are 00, 0, 1, 2, . . ., 36. Each number has an equal chance of being selected. In the game, the winning number is found by a spin of the wheel. Say...

Answered: 1 week ago

Question

★★★★★

What variables are important in determining call option prices?

Answered: 1 week ago

Question

★★★★★

In what ways may the actual incidence of a government expenditure program differ from the legislated intent? Why might the effects be different in the short run than in the long run? Illustrate with...

Answered: 1 week ago

Question

★★★★★

Explain the processes involved in problem solving and the factors that can interfere with successful problem solving.

Answered: 1 week ago

Question

★★★★★

Several years ago, Blaha Company purchased Husker Company as a subsidiary. At that time, Blaha Company recorded goodwill of $100,000 related to the purchase. Since that time, the company has not...

Answered: 1 week ago

Question

★★★★★

no loops and function allow This program introduces concepts in Chapters 3 and 4 The goal of this project is to implement a simple password generation algorithm using the string class tunctions and...

Answered: 1 week ago

Question

★★★★★

1. If you were in Jimmies shoes, would you sell Greg an equity stake in Lees Ice Cream? Explain. If Jimmie does sell equity to Greg for $3,300, what percentage of the business should he offer? 2....

Answered: 1 week ago

Question

★★★★★

Assume X and Y are random variables Where E'(X) = 4, E(X2) = 80, E(Y) = 6, E0\") = 72, and Var(X + Y) = 150. Calculate the 0012(X , Y). Possible Answers

Answered: 1 week ago

Question

★★★★★

You take an initial sample from the water and estimate that there are 2 0 million microbes in the pool. Assume that the bacteria grows according to a logistic growth model for population growth....

Answered: 1 week ago

Question

★★★★★

RSM 2406: Operations Management Strategy Class 3: Friday, March 24 Part 1 Reading: United Airlines and Captain Danny Flanagan (coursepack) Assignment: You are United's CEO, at a strategic-planning 1...

Answered: 1 week ago

Question

★★★★★

Thank you for your support What is the expected return on a stock that has a 27% probability of a 35% return, a 15% probability of a 15% return, a 32 % probability of a -2%, and a probability of 26...

Answered: 1 week ago

Question

★★★★★

Calculate the ILP for each of the following scenarios. Use a table to record the relevant dependencies as part of your answer. A sample table is provided at the end of this problem

Answered: 1 week ago

Question

★★★★★

A B C D E F G H J K 1 Requirement #1: 2 During its first month of operation, the True Consulting Corporation, which specializes in management consulting, 3 completed the following transactions. 4 5...

Answered: 1 week ago

Question

★★★★★

Digregory makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 30% Paid in the first month following purchase: 60% Paid in the second month...

Answered: 1 week ago

Question

★★★★★

In Problem use absolute value on a graphing calculator to find the area between the curve and the x axis over the given interval. Find answers to two decimal places. y = x 3 ln x; 0.1 x 3.1

Answered: 1 week ago

Question

★★★★★

What is the primary role of accounting?

Answered: 1 week ago

Question

★★★★★

Why is a firms credit policy important for translating the revenue budget into the budgeted inflows of cash?

Answered: 1 week ago

Question

★★★★★

For the month of April, Tom and Lynda had forecasted gym membership at 950 members. Tom and Lynda expect to collect $100 as the monthly fee from each member and to spend $35 in variable costs per...

Answered: 1 week ago

Question

★★★★★

The following are several transactions for Halpin Advertising Company. a. Purchased $1,000 of supplies. b. Sold $5,000 of advertising services, on account, to customers. c. Used $250 of supplies. d....

Answered: 1 week ago

Question

★★★★★

Pain-Free Dental Group Inc. purchased dental supplies of $18,200 during the year. At the end of the year, a physical count of supplies showed $4,125 of supplies on hand. Required: 1. Prepare the...

Answered: 1 week ago

Question

★★★★★

Nichols Company had the following items that required adjustment at December 31, 2019. a. Electricity used during December was estimated to be $320. This amount will be paid in January. b. Owed wages...

Answered: 1 week ago

Previous Question Next Question