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Suraya Collier, the bookkeeper for Danner, Letourneau, and Majewski, a political consulting firm, has recently completed a managerial accounting course at her local community college.
Suraya Collier, the bookkeeper for Danner, Letourneau, and Majewski, a political consulting firm, has recently completed a managerial accounting course at her local community college. One of the topics covered in the course was the cost of goods manufactured schedule. Suraya wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2020: $ 3,400 Supplies used on consulting contracts 2.100 Supplies used in the administrative offices 950 Depreciation on equipment used for contract work 1250 Depreciation used on administrative office equipment Salaries of professionals working on contracts 15,600 7,800 Salaries of administrative office personnel 360 Janitorial services for professional offices Janitorial services for administrative offices 710 830 Insurance on contract operations Insurance on administrative operations 1.140 Utilities for contract operations 1.960 Utilities for administrative offices 1.480 (a) Prepare a cost of contract services provided schedule (similar to a cost of goods manufactured schedule) for the month. DANNER, LETOURNEAU, AND MAJEWSKI Schedule of Cost of Contract Services Provided For the Month Ended August 31, 2020 V $ > $
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