A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. She asks you whether you would recommend a job costing or process costing system for her business. What would you recommend? Why? Explain in detail citing specific reasons for your decision.

A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. She asks you whether you would recommend a job costing or process costing system for her business. What would you recommend? Why? Explain in detail citing specific reasons for your decision.

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter1: The Need For Payroll And Personnel Records

Section: Chapter Questions

Problem 3QD: In staffing their offices, some firms encourage in-house referrals (recommendations of their present...

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A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. She asks you whether you would recommend a job costing or process costing system for her business. What would you recommend? Why? Explain in detail citing specific reasons for your decision.
Write a memo to Joan explaining how she should apply her overhead costs in developing bids on her jobs.
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Assume you are the manager for the semi-trucks division at the Speedy Delivery Company. The semi-truck division is a cost center and you are reviewing the driver overtime costs for the previous year, shown here: A. Microsoft Excel or another spreadsheet application, create a line chart with markers showing the driver overtime expense. Describe your observations. B. Knowing that safety is important in your industry and weather plays a significant role in the safety of drivers, you decide to talk with the safety manager and obtained the following information: Using Microsoft Excel or another spreadsheet application, create individual line charts with markers showing the average snowfall and non-company highway accidents. Describe your observations and actions you might consider.
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Mohammed was recently interviewed for an accounting job. His employer told him that the job emphasizes future orientation and less verifiability and involves preparing reports to be primarily used by internal users. Mohammed is probably going to work as: O a. A Financial accountant O b. None of the given answers O C. AHuman resource manager O d. AManagement accountant O e. A Marketing specialist ion In a job-order costing system, indirect labor cost is usually recorded as a credit to: O a. None of the given answer is correct O b. Manufacturing Overhead. out of 4 O C. Work in Process. O d. Cost of Goods Sold. on O e. Cash or Wage Payable.
Your company has a travel policy that reimburses employees for the "ordinary and necessary" costs of business travel. Employees often mix a business trip with pleasure by either extending the time at the destination or traveling from the business destination to a nearby resort or other personal destination. When this happens, an allocation must be made between the business and personal portions of the trip. However, the travel policy is unclear on the allocation method to follow. Consider this example. An employee obtained a business-class ticket for $9,552 and traveled the following itinerary. From Chicago Paris Rio de Janeiro. To Paris Rio de Janeiro. Chicago Miles. 4,220 5,630 1. Business portion of the airfare 2. Business portion of the airfare One-Way Regular Fare $3,650 4,140 5, 250 3,450 Purpose Business Personal Return On the date of the flights between Chicago and Paris (and return), a restricted round-trip fare of $4,820 was available. Required: a. Compute the business…
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Your company has a travel policy that reimburses employees for the "ordinary and necessary" costs of business travel. Employees often mix a business trip with pleasure by either extending the time at the destination or traveling from the business destination to a nearby resort or other personal destination. When this happens, an allocation must be made between the business and personal portions of the trip. However, the travel policy is unclear on the allocation method to follow. Consider this example. An employee obtained a business-class ticket for $9,598 and traveled the following itinerary. From Chicago Paris Rio de Janeiro To Paris Rio de Janeiro Chicago 1. 2. Miles 4,120 5,780 5,210 Business portion of the airfare Business portion of the airfare One-Way Regular Fare $ 3,680 4,170 3,250 On the date of the flights between Chicago and Paris (and return), a restricted round-trip fare of $4,880 was available. Required: a. Compute the business portion of the airfare according to each…
What are the plans and interventions to get better pay in entry-level jobs of CPA or any jobs related to business?
Assume you are an HR Manager at Pharmatec Pvt. Ltd and your Company has just hired a new employee on the position of Assistant Manager HR. Being an HR Manager you are required to design a Job Description for the position of Assistant Manager HR.