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

Q: Define carried interest

A: Carried interest: It could be a portion of any profit that private equity and hedge reserves common…

Q: What are the scopes of the IPSASs?

A: Financial Accounting- It is the branch of accounting that records events of financial nature that…

Q: The components of the conceptual framework ?

A:

Q: Required:

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: practical issues of wacc

A: Every entity uses a mix of equity and debt to fund its operations. This mix is recognized as the…

Q: Define basis point

A: Answer: A base value is an approximate number, also used as an initial index value. All potential…

Q: Use of CAATs?

A: Computer Assisted Audit Techniques or CAATs can be characterized as an auditing strategy that…

Q: Define attainable set

A: Attainable SetA set of all the portfolios that are possible to be formed by the group of the number…

Q: How is RI calculated?

A:

Q: Describe the basic assumptions of underlie GAAP.

A: Generally Accepted Accounting Principles (GAAP): It refers to accounting principles, standards and…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Consistency Principal Definition

A: Generally Accepted Accounting Principles (GAAP):These are the guidelines necessary to create…

Q: Define Pooling of interests method

A: The pooling of interest is a technique used for the M&A between two companies. In this method,…

Q: How is materiality concept applied?

A: Accounting principles:

Q: Define charter

A: Introduction: Charters are legalized documents that lawfully set up corporate companies. Only…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: What is the relevant range?

A: The concept of relevant range is used in the cost accounting. It tells under what level of…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Q: Diamond rule structure and its part

A: The diamond rules of accounting has five parts, they are Asset Expense Income Liability Capital

Q: Define Indirect method

A: Hey there ! Since particular concept is not given, indirect method is assumed under cash flow…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.