The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information
Question:
The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information related to those cases as of the end of March 2010:
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Taub & Lawson allocates overhead to cases based on a predetermined rate of $150 per estimated court hour.
a. Determine the total cost assigned to each case as of March 31, 2010.
b. Case #3 was completed at the end of April 2010. At that time, $10,100 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72 had been spent in court. Taub & Lawson’s policy is to charge client costs plus 45 percent. What amount will be billed to the client involved in Case#3?
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a Case 1 Case 2 Case 3 Case 4 DM 480 8800 3700 850 DL 190 per hour 76...View the full answer
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8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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