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Following are transactions for McGinn law firm (a services company). Assuming the company's beginning work-in-process services was zero what amount was CREDITED from work-in-process services
Following are transactions for McGinn law firm (a services company). Assuming the company's beginning work-in-process services was zero what amount was CREDITED from work-in-process services during the period? - Purchased legal documents supplies costing $20,000 - Used supplies costing $15,000 in its customer engagements - Incurred and paid \$150,000 in legal salaries - Logged 800 billable hours on customer engagements - Incurred rent of $20000 on the legal office building where associates work - Applied overhead at a rate of $200 per billable hour - McGinn bills it's customers at a rate of $400 per billable hour. - All work in process was moved to cost of services. 160.000 175,000 185,000 325,000 360.000
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