This topic contains a solution. Click here to go to the answer

Author Question: An accounting firm completes an audit for a local union and has the following cost information for ... (Read 117 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
An accounting firm completes an audit for a local union and has the following cost information for the  year. 

Indirect labor $60,000
Office lease  $22,000
Depreciation on office equipment $8,000
Marketing expense $20,000
Utilities $15,000

The firm's direct labor costs are budgeted at $500,000 for the year and overhead is allocated based on direct labor costs.  The firm used 1 partner and 2 audit associates on the audit.  Partners are paid $150 per hour while audit associates earn $50 per hour.  The partner spent 6 hours on the engagement while the audit associates spent a total of 40 hours.  

Required: 
What is the cost of the audit?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by genevieve1028 on Mar 6, 2021

micaelaswann

  • Sr. Member
  • ****
  • Posts: 314
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly




genevieve1028

  • Member
  • Posts: 601
Reply 2 on: Mar 6, 2021
Gracias!


upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

For a complete list of videos, visit our video library