Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Product and Period Cost in a Service Business I financial adviser charges 500 per hour and requires 3 hours with a client before producing a

Product and Period Cost in a Service Business I financial adviser charges 500 per hour and requires 3 hours with a client before producing a pension plan. Advertising cost 2000 per month. The client is charged 2100 on completion of the 3 hour sequence of consultation. During one week the financial adviser provides 20 hours of consultation. The statement of cost is as follows Product Cost Labour: 20 hours @500 per hour 10,000 Period Cost Advertising 2,000 If the consultation was complete for 6 clients and 1 client had only 2 hours consultation by the end of the week Required Produce a calculation of the profit at the end of the week

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

More Books

Students also viewed these Accounting questions