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Citrus2011 [14]
3 years ago
8

Service industry, job costing, law firm. Kidman & Associates is a law firm specializing in labor relations and employee-rela

ted work. It employs 30 professionals (5 partners and 25 associates) who work directly with its clients. The average budgeted total compensation per professional for 2014 is $97,500. Each professional is budgeted to have 1,500 billable hours to clients in 2014. All professionals work for clients to their maximum 1,500 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to jobs on a per-hour basis. All costs of Kidman & Associates other than professional labor costs are included in a single indirect-cost pool (legal support) and are allocated to jobs using professional labor-hours as the allocation base. The budgeted level of indirect costs in 2014 is $2,475,000. Prepare an overview diagram of Kidman’s job-costing system. Compute the 2014 budgeted indirect-cost rate per hour of professional labor. Kidman & Associates is considering bidding on two jobs: Litigation work for Richardson, Inc., which requires 120 budgeted hours of professional labor Labor contract work for Punch, Inc., which requires 160 budgeted hours of professional labor Prepare a cost estimate for each job.
Business
1 answer:
evablogger [386]3 years ago
8 0

Answer:

Explanation:

Budgeted direct cost rate= budgeted direct cost/professional labor hours available =97500/1500=$65 per labor hour

Budgeted indirect cost rate= Budgeted indirect cost/ professional labor hours = 2475000/45000= $55

Job R:

Direct cost:

Job R - 120H*65=7800

Add: Indirect cost:

120H* 55=6600

TOTAL R JOB=14400

Job P:

DC:

Job P - 160H*65=10400

IC:

160H*55=8800

TOTAL P JOB=19200

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Naomi is planning to get a job after graduating from college. Which explains why she should establish a positive credit history?
AleksandrR [38]

Answer:

A). She will appear more responsible to future employers.

<u>Multiple choices</u>

A). She will appear more responsible to future employers.

B). She will be able to do the job better.

c). She will be able to complete her job search application better.

D). She will get an increase in the interest rate on her student loans.

Explanation:

A positive credit score is a result of responsible use of income against the debts incurred. It shows an individual is good at managing their personal finances. A negative credit score paints a bad picture of an individual. It communicates a lack of self-discipline in managing debts.

A positive credit score will portray Naomi as responsible in using her finances. Her employers will view her as good at managing money.

6 0
3 years ago
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A private university offers graduate assistantships to qualified students each year. In exchange for the waiver oftuition, gradu
alina1380 [7]

Answer:

A. tuition revenues of $4,000 and expenditures of $4,000.

Explanation:

If the student is not employed as a graduate assistant required to assist faculty members with research and other activities, we will have one:

a. The student will have to pay $4,000 tuition. This is a revenue to the university.

b. The private university will employ a research assistant and pay him $4,000. This an expenditure to the university.

Therefore, this transactions have to be required as highlighted in a. and b. above to track the actual revenue and expenditure implication of the waiver despite cash does not exchange hands.

7 0
3 years ago
When one group controls an industry or market by being the only provider, this is called _____.
e-lub [12.9K]
When one group controls an industry or market by being the only provider, this is called MONOPOLY.

Mono - Greek monos means one or single
Poly - Greek polein means to sell.

Monopoly is a market where only one sells a certain good or service. In this type of market there is no competition thus the monopolist is not driven to improve his commodity because consumers have no other choice but to buy his product.
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3 years ago
Jamal purchased a motorcycle from Getaway Automobiles, and the motorcycle's electric starter began malfunctioning after a week o
BartSMP [9]

Answer:

Option B, Jamal is entitled to revoke acceptance because he took back the motorcycle after the seller's assurance that the nonconformity would be cured.

Explanation:

The primary purpose of purchasing goods is to obtain conforming goods of the desired quality. Occasionally, the seller delivers non-conforming goods, goods that fail to meet the contractual obligation (obligations include: seller's description, statements promises...). In situations like this the buyer may revoke his acceptance if already accepted or reject the delivery upon discovery.

If delivery is already accepted, acceptance may be revoked;

* On the reasonable grounds that its non-conformity would be cured and it has not be cured.

* Without discovery of such non-conformity if his acceptance was reasonably induced either by the difficulty of delivery before acceptance or by the seller's assurances.

Therefore, option B best suits the question. Under these circumstances, Jamal is entitled to revoke his acceptance because the he took back the motorcycle after the seller's assurance that the non-conformity would be cured which was not, even after several complaints.

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2 years ago
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The definition of business is the profession or trade, the buying and selling of goods or services for profit. A business example is agriculture. An example of a transaction is the sale of a home.

Learn more about business here:brainly.com/question/24553900

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