The consulting firm Pharoah Financial employs 49 full-time staff The estimated compensation per employee is $106.140 for 1830 hours. It charges all direct labour costs to clients. It includes any other costs in a single indirect cost pool and allocates them based on labour hours. Actual indirect costs were $853.000 Estimated indirect costs for the coming year are $1.430,000 The firm expects to have 77 clients in the coming year. Determine the overhead rate per direct labour hour Round answer to 2 decimal places, eg 2.25) Overhead rate per direct labour hour eTextbook and Media Determine the direct labour rate per hour. Round anwer to 2 decimal places, es 2.25) Direct labour rate per hour S S eTextbook and Media Calculate the total cost of a job that will take 270 direct labour hours, uning a normal cost system (Round onwer to 2 decimal places 42.124.253 Total cost of the job S

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question

Subject:

The consulting firm Pharoah Financial employs 49 full-time staff. The estimated compensation per employee is $106,140 for 1.830
hours. It charges all direct labour costs to clients. It includes any other costs in a single indirect cost pool and allocates the based on
labour hours. Actual indirect costs were $853.000 Estimated indirect costs for the coming year are $1,430,000. The firm expects to
have 77 clients in the coming year.
Determine the overhead rate per direct labour hour. (Round orwer to 2 decimal places, eg 2.25)
Overhead rate per direct labour hour
eTextbook and Media
Determine the direct labour rate per hour. (Round anwer to 2 decimal places, es 2.25)
Direct labour rate per hour S
S
eTextbook and Media
Calculate the total cost of a job that will take 270 direct labour hours, using a normal cost system (Round onwer to 2 decimal places
2.124.25)
Total cost of the job S
Transcribed Image Text:The consulting firm Pharoah Financial employs 49 full-time staff. The estimated compensation per employee is $106,140 for 1.830 hours. It charges all direct labour costs to clients. It includes any other costs in a single indirect cost pool and allocates the based on labour hours. Actual indirect costs were $853.000 Estimated indirect costs for the coming year are $1,430,000. The firm expects to have 77 clients in the coming year. Determine the overhead rate per direct labour hour. (Round orwer to 2 decimal places, eg 2.25) Overhead rate per direct labour hour eTextbook and Media Determine the direct labour rate per hour. (Round anwer to 2 decimal places, es 2.25) Direct labour rate per hour S S eTextbook and Media Calculate the total cost of a job that will take 270 direct labour hours, using a normal cost system (Round onwer to 2 decimal places 2.124.25) Total cost of the job S
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education