King Company is a consulting firm. The firm expects to have $51,000 in indirect costs...
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Accounting
King Company is a consulting firm. The firm expects to have $51,000 in indirect costs during the year and bill customers for 8,000 hours. The cost of direct labor is $67 per hour.
16.
Calculate the predetermined overhead allocation rate for
King
using estimated billable hours for the allocation base.
17.
King
completed a consulting job for
John
McClurg
and billed the customer for
19
hours. What was the total cost of the consulting job?
18.
If
King
wants to earn a profit equal to
80%
of the cost of a job, how much should the company charge Mr.
McClurg?
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