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Job Order Cost Accounting for a Service Business The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order

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Job Order Cost Accounting for a Service Business 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: Charged 570 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to July 3 prepare for the trial, at a rate of $160 per hour 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $27,200 14. Charged 340 hours of professional time for the Obsidian trial at a rate of $250 per hour Received invoice from consultants Wadsley and Harden for $58.300 for expert testimony related 18 to the Obsidian trial. 27. Applied office overhead at a rate of $45 per professional hour charged to the Obsidian case 31. Paid administrative and support salaries of $29,100 for the month 31. Used office supplies for the month, $9,800. 31. Paid professional salaries of $180,300 for the month 31. Billed Obsidian $345,700 for successful defense of the case. a. Provide the journal entries for each of these transactions July 3 July 10 July 14 July 18 July 27 July 31 Admin sal Jly 31 Supplies July 31 Prof sal 31. Billed Obsidian $345,/00 for successtul defense of the case. a. Provide the journal entries for each of these transactions. July 3 July 10 July 14 July 18 July 27 July 31 Admin. sal. July 31 Supplies July 31 Prof, sal. July 31 Billed July 31 Cost b. How much office overhead is over- or underapplied? Enter your answer as a positive number c. Determine the gross profit on the Obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services

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