-- thank you

Timin Associates is a recently formed law partnership. Rachel Hamiton, the munaging partner of Timlin Associates, has just finished a tense phone call with Phi Lopez. president of Lopez Enterprises. Phat strongly complained about the price Timlin charged for some legal work done for his company. (i) (Click the icon to view additional information:) Read the reapirenests: Requirement 1. Why is it important for Timin Associates to understand the costs associated with indvidual jobs? A. Operating at or above capacity for the company lowers overall costs to individual jobs. 10. Prieing decisions are heavily influenced by reported cost numbers. c. Overstaffing ary job would be detrimental to the company's bottom ine. D. Alt of the above Requirement 2. Compute the costs of the Lopez Enterprises and Clinical Inc. jobs using Timlin's simple costing system. (Abbriviation usod: prof = professionat) Begin by delermining the formula used to calculate the drect costs for each job Prot labor hours for joo * Prot labor hourly rate. Now determine the formula uted to calcutate the indirect costs for each job. 1. indirect costs alocaled to jot More info Harnition also received a phone cal from Timans ony other client, Cinical inc, Which was very pleased with both the quality of the work and the price charged on its most recent job. Timin Aseciates operates at capacty and uses a costbased approach to pricing (baling) each job. Carrently it uses a simple costog system with a ingle direct-cost category (protossional labor-houn) and a single indirect-cost pool (general auppor). Indirect costs are allocated to cases on the basis of profestional labes-hours per case. The job files show the following