The law firm of Furlan and Benson accumulates costs associated with individual cases using a job order cost systemThe following transactions occurred during July Charged 420 hours of professional lawyer) time at a rate of $240 per hour to the Obsidian of contract surt to for the trial Reimbursed travel costs to employees for depositions related to the Obsidian case, $ 14Charged 130 hours of professional time for the Obsidian trial at a rate of $250 per hour 18. Received invoice from consultants Wadsley and Harden for $55,000 for expert testimony related to the Obsidian Apoled overhead at a rate of $75 professional hour charged to the Obsidian case 31. Paid administrative and support salanes of $29,300 for the month 31. Used supplies for the month 9,900 Paid professional salaries of 160,400 for the month 31 Billed Obsidian $280,800 for defense of the case

Job order cost accounting for a service company 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 420 hours of professional (lawyer) time at a rate of $240 per hour to the Obsidian Co, breech of contract suit to prepare for the July 3. trial 10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $15,700 14. Charged 130 hours of professional time for the Obsidian trial at a rate of $250 per hour 18. Received invoice from consultants Wadsley and Harden for $56,000 for expert testimony related to the Obsidian trial 27. Applied office overhead at a rate of $75 per professional hour charged to the Obsidian case 31. Paid administrative and support salaries of $29,300 for the month 31. Used office supplies for the month, $9,900 31. Paid professional salaries of $160,400 for the month 31. Billed Obsidian $280,000 for successful defense of the case a. Provide the journal entries for each of these transactions July 3 July 10 July 14 July 14 July 18 July 27 1 1 1 1 1 1 1 1 10 July 31 Admin. sal. July 31 Supplies July 31 Prof. sal. July 31 Billed July 31 Admin. sal July 31 Supplies ] 0 1 0 0 0 1 0 0 0 0 > > > > > 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