During january Broadway consultants worked 1000 hours for Nocando manufacuring 3

Question

During january Broadway consultants worked 1000 hours for Nocando manufacuring 300 hours for Sails Inc and 500 hours for original John's resturans the firms bill clinets at $ 80 an hour and its labor costs are $ 30 an hour, a total of 2000 hours were worked in january with 200 hours not billable to clients overhead costs of $ 30000 were incured and assigned to client on basis of direct labor hours because 200 hours were not billable some overhead was not assigned to jobs, the Broadway consultants had $ 30000 in selling and admin costa all transaction were on account

what are the revenu and cost per client

prepare income statment for january

Explanation / Answer

Nocando Manufacturer Sail Inc John Restaurant Revenue $                          80,000.00 $ 24,000.00 $           40,000.00 Labor Cost $                          33,333.33 $ 10,000.00 $           16,666.67 Overhead Cost $                          16,666.67 $    5,000.00 $             8,333.33 Net Income before selling & Admin Overhead $                          30,000.00 $    9,000.00 $           15,000.00 Total Net Income before selling & Admin Overhead $ 54,000.00 Admin & Selling overhead $ 30,000.00 Net Income = $ 24,000.00

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