Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the solution Check my work 4. pped Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist

What is the solution
image text in transcribed
image text in transcribed
Check my work 4. pped Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants that work at the client's job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, estimated that 52,500 direct labor hours would be required for the period's estimated level of client service. The company also estimated $262,500 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $283,300 and its actual total direct labor was 57,850 hours." Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available with respect to this job: Direct materials $ 43,500 Direct labor cost $ 22,000 Direct labor-hours worked 210 Compute the total job cost for the Xavier Company engagement. rint Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) por DUH Predetermined overhead rale Required 2 > Check my we 4 2 points Tech Solutions is a consulting firm that uses a job order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm's direct labor includes salaries of consultants that work at the client's job site. and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, estimated that 52,500 direct labor-hours would be required for the period's estimated level of client service. The company also estimated $262.500 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $283,300 and its actual total direct labor was 57,850 hours Required: 1 Compute the predetermined overhead rate. 2. During the year. Tech Solutions started and completed the Xavier Company engagement. The following information was available with respect to this job: Book Here Direct materials $ 43,500 Direct labor cost $ 22,000 Direct labor-hours worked 210 Compute the total job cost for the Xavier Company engagement Complete this question by entering your answers in the tabs below. Reference Required 1 Required 2 Compute the total cost for the Xavier Company engagement. (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor Overhead applied Total manufacturing cost

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

NHS Audit Committee Handbook Practical Guides

Authors: Governance And Audit Committee

3rd Edition

1904624839, 978-1904624837

More Books

Students also viewed these Accounting questions