Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Fin Tim tion English (en) My courses This course Nafiz Associates is an accounting firm that provides audit, tax and accounting services. Nafiz firm has
Fin Tim tion English (en) My courses This course Nafiz Associates is an accounting firm that provides audit, tax and accounting services. Nafiz firm has a single direct cost category (professional labor) and a single indirect cost pool (Client support). Indirect costs are allocated to the service using professional labor hours as the allocation base. On March 2020 the firm is bidding on tax and audit service for the jobs (X1,x2,X3) The manager provides the following information from the job-cost record with missing amounts you should fill it assuming all professionals earn the same rate and the markup rate for pricing jobs is intended to produce the same operating income ratio The job-cost record (orders) X2 X3 Direct professional service labor hours ? 200 600 Direct professional labor cost $20,000 $8,000 ? Client support cost allocated ? ? ? The estimated total cost per job 50,000 ? ? The price per job $60,000 ? ? Compute the price of job X2 and X3 X1 Select one: $48,000 the price of job X2 and $144,000 of X3 b. $45,000 the price of job X2 and $90,000 of X3 $30,000 the pnce of job X2 and $90,000 of X3 d. 524,000 the price of job X2 and $72,000 of X3 e. $66.000.the once afinh Xiand $2.000.X EN
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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