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accounting hmwk Compute Design’s predetermined indirect cost allocation rate for 2011.

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accounting hmwk Compute Design’s predetermined indirect cost allocation rate for 2011.
 Design, Inc., is a web site design and consulting firm.  The firm uses a job order costing    
system, in which each client is a different job.  Widget Design traces direct labor, licensing costs,    
and travel costs directly to each job.  It allocates indirect costs to jobs based on a predetermined    
indirect cost allocation rate, computed as a percentage of direct labor costs.      
                     
  At the beginning of 2011, managing partner Judi Johnson prepared the following budget:    
  Direct Labor Hours   10,000 hours          
  Direct Labor Costs    $ 1,400,000            
  Support Staff Salaries  $    170,000            
  Computer Leases    $      49,000            
  Office Supplies    $      29,000            
  Office Rent    $      60,000            
                     
                     
                     
  In November 2011, Widget Design served several clients.  Records for two clients appear here:    
          Dining Coop Root Chocolates    
  Direct labor hours     740 hours   65 hours    
  Software licensing costs    $    2,100    $        300      
  Travel costs      $    9,000    $                   
                     
                     
                     
                     
Deliverables                  
                     
1.   Compute Design’s predetermined indirect cost allocation rate for 2011.    
2.   Compute the total cost of each job.            
3.   If Design’s inc wants to earn profits equal to 20% of sales revenue, how much (what fee) should    
  it charge each of these two clients?            
4.   Why does Widget Design assign costs to jobs?          
                     
Deliverable 1                  
  The predetermined indirect cost allocation rate =          
                     
                   
HINT: Do this with a formula showing indirect costs to total direct labor costs      
                     
                     
Deliverable 2                  
  First enter in the direct costs for each job.  Then enter in the indirect costs and total    
  costs for the jobs.                
  Make sure to enter “0” in the appropriate column.  Enter percentage amounts as a whole    
  number.  Round your answers to the nearest whole dollar.        
                     
    Widget Design, Inc.        
    Estimated Cost of Dining Coop and Root Chocolates Jobs        
          Dining Coop Root Chocolates        
    Direct Costs:              
      Direct labor            
                     
                     
    Software licensing costs            
    Travel                
    Total Direct Costs              
                     
    Indirect Costs:              
           $                       
             $                     
    Total Cost    $               $                     
                     
                     
Deliverable 3                  
  Determine the amount Robin Design, Inc. should charge these clients.      
    (Round your answers to the nearest whole dollar.)        
                     
  Dining Coop:                
                     
  Root Chocolates:                
                     
Deliverable 4                  
  Widget Designs, Inc. assigns costs to jobs to help the company      
                     
                     
                     
                     
  Assigning costs to:                 
                     
                     
                     
                     
                     

 

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