ACCOUNTING-Job Order Cost Accounting Entries for a Service Business

Job Order Cost Accounting Entries for a Service BusinessThe law firm of Tilton and Henderson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during June:June 4.Charged 540 hours of professional (lawyer) time to the Rucker Co. breech of contract suit to prepare for the trial, at a rate of $240 per hour.8.Reimbursed travel costs to employees for depositions related to the Rucker case, $23,700.12.Charged 140 hours of professional time for the Rucker trial at a rate of $280 per hour.16.Received invoice from consultants Wenzel and Lachgar for $73,300 for expert testimony related to the Rucker trial.24.Applied office overhead at a rate of $55 per professional hour charged to the Rucker case.30.Paid secretarial and administrative salaries of $26,600 for the month.30.Used office supplies for the month, $9,000.30.Paid professional salaries of $167,200 for the month.30.Billed Rucker $346,600 for successful defense of the case.Hidea. Provide the journal entries for each of the above transactions. June 4 June 8 June 12 June 16 June 24 June 30 Admin. sal. June 30 Supplies June 30 Prof. sal. June 30 Billed June 30 Cost b. How much office overhead is over- or underapplied? Enter your answer as a positive number.$ SelectOverappliedUnderappliedCorrect 2 of Item 2c. Determine the gross profit on the Rucker case, assuming that over- or underapplied office overhead is closed monthly to cost of services.$

 

CLICK HERE TO ORDER A SIMILAR PAPER

We pride ourselves in writing quality essays

CLICK HERE TO CONTACT US

Lets Start Working

Plagiarism Free

We use anti-plagiarism software to ensure you get high-quality, unique papers. Besides, our writers have a zero plagiarism mentality

On Time Delivery

Your essay will be delivered strictly within the deadline.  If you have an urgent order, we can do it!

Money Back Guarantee

We offer warranty service, including free revisions, and a right to request a refund incase your expectations are not met!

THE BEST PAPER WRITER HELPER

Our Advantage

  • Say “NO” to plagiarism – FREE plagiarism report as an addition to your paper
  • The lowest prices that fit excellent quality
  • Authorship – you are the one who possesses the paper. We DO NOT re-sale or re-use any of them.

OUR PAPER WRITER HELPER GOODIES

Our Freebies

  • Free Cover Page
  • Free Revisions
  • Free Reference Page
  • Free 24/7 support

Pin It on Pinterest

Share This