Lawrence and Louis Law Firm Uses Activity-Based Costing to Determine

question 48

Multiple Choice

Lawrence and Louis Law Firm uses activity-based costing to determine the costs of its cases. Information about costs follow: The Laurel case required 60 professional hours, 20 of which were partner hours, and labor costs totaled $10,000. How much overhead was assigned to the Laurel case?

• A)$13,500
• B)$14,000
• C)$6,500
• D)$14,500

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Definitions:

Pine Tree

A type of evergreen tree belonging to the genus Pinus, known for needle-like leaves and production of cones containing seeds.

Gametophyte

The sexual phase in the life cycle of plants and algae that produces gametes, or sex cells.

Sporophyte

The diploid phase in the life cycle of plants and algae that produces spores through meiosis.

Vascular Tissue

Specialized tissue in plants responsible for the transport of water, nutrients, and sugars throughout the organism.