Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 7-49 Job Costs: Service Company (LO 7-4) For the month of July UP Payrall Sarvices worked 1,800 hours for Dune Motors, 840 hours for
Problem 7-49 Job Costs: Service Company (LO 7-4) For the month of July UP Payrall Sarvices worked 1,800 hours for Dune Motors, 840 hours for Jaka's Chartars, and G00 hours for Mission Hospital UP bills cliants at $120 an hour, its labor costs are $48 an hour. A total of 3,800 hours were workad in July with 380 hours not billable to cients. Overhaad costs of $30,500 were incurred and were assigned to clients on the basis of direct labor hours. Because 380 hours were not billable, some overhend was not assigned to jobs. UP had $20,700 in marketing and administrativecosts. All transactions were on aocount Required a. What are the revenues and the cost per client? (Do not round intermediate caloulations.) Motors Overhead Margn b. Prepare an income statement for Jwly (Do not round intermediate caleulations Income Statement For the Month Less ooet of services to dlient Total cos of services to cients Tatal other cost
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