ACC 561 Week 6 Assignment WileyPLUS.pdf

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ACC 561 Week 6 Assignment WileyPLUS Check this A+ tutorial guideline at Exercise 20-3 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Auditing Tax Consulting Quarter 1 Quarter 2 Quarter 3 Quarter 4 2,560 1,750 2,200 2,740 3,110 2,750 2,140 2,790 1,780 1,780 1,780 1,780 Average hourly billing rates are: auditing $82, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. Exercise 22-1 Stanton Company is planning to produce 2,100 units of product in 2012. Each unit requires 3.60 pounds of materials at $6.60 per pound and a half-hour of labor at $15.40 per hour. The overhead rate is 70% of direct labor. (a) Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor Overhead


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