Opinion Research, a marketing research firm, has a cost function for overhead costs of $60,000 per month
Question:
Opinion Research, a marketing research firm, has a cost function for overhead costs of $60,000 per month plus $50 per client hour. In July its overhead allocation rate was calculated assuming 3,000 client hours. Actual overhead costs for July were $220,000, and client hours amounted to 2,800.
REQUIRED
A. Determine the total cost for job 717 if direct costs were $52,000 and 850 hours were worked for the client.
B. Provide examples of possible overhead costs for Opinion Research that are: (1) fixed and (2) variable.
C. Determine the amount of over-applied or under-applied overhead for July.
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A Total costs for Job 717 Fixed overhead rate 600003000 client hours 20 per client hour Variable ove...View the full answer
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Related Book For
Cost Management Measuring Monitoring and Motivating Performance
ISBN: 978-0470769423
2nd edition
Authors: Leslie G. Eldenburg, Susan K. Wolcott
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