Principles of Cost Accounting: P9-2 The budget for the Murphy Equipment Inc. job in P9-1

Principles of Cost Accounting

P9-2 Cost performance report and budgeted profit and actual profit for a service business
The budget for the Murphy Equipment Inc. job in P9-1 consisted of the following amounts:
Partners' salary and overhead 6,300
Associates' salary and overhead 9,175
Travel 4,150
Telephone/fax 1,475
The successful bid price of the job was $26,900.

Required:
1. Prepare a cost performance report
2. Compute the budgeted profit and the actual profit on the job.
Powered by