The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system . The following transactions occurred during July:Jul. 3 Charged 175 hours of professional (lawyer) time to the Obsidian Co. breech of contract suit to prepare for the trial, at a rate of $150 per hour.10 Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,500.14 Charged 260 hours of professional time for the Obsidian trial at a rate of $185 per hour.18 Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial.27 Applied office overhead at a rate of $62 per professional hour charged to the Obsidian case.31 Paid administrative and support salaries of $28,500 for the month.31 Used office supplies for the month, $4,000.31 Paid professional salaries of $74,350 for the month.31 Billed Obsidian $172,500 for successful defense of the case. Required:A. Provide the journal entries for each of these transactions. Refer to the Chart of Accounts for exact wording of account titles. B. How much office overhead is over- or underapplied? C. Determine the gross profit on the Obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.

Which of the statements best describes why the aggregate demand curve is downward sloping? an increase in the aggregate price level causes consumer and investment spending to fall, because consumer purchasing power decreases and money demand increases. as the aggregate price level increases, consumer expectations about the future change. as the aggregate price level decreases, the stock of existing physical capital increases. as a good's price increases, holding all else constant, the good's quantity demanded decreases.

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below.a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below.a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02

In june, one of the processinthe assembly department started the month with 25,000 units in its beginning work in process inventory. an additional 310,000 units were transferred in from the prior department during the month to begin processing in the assembly department. there were 30,000 units completed and transferred to the next processing department during the month. how many units the assembly department started the month with 25,000 units in its beginning work in process inventory. an additional 310,000 units were transferred in from the prior department during the month to begin processing in the assembly department. there were 30,000 units completed and transferred to the next processing department during the month. how many units were in its ending work in process inventory