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Contemporary Trends is an interior decorating firm in Munich. The following costs were incurred… 1 answer below » Contemporary Trends is an interior decorating firm in Munich. The following costs were incurred in the firm’s contract to redecorate the mayor’s offices. Direct material used …………………………………………………………………………………………………………………….. €4,100 Direct professional labor ……………………………………………………………………………………………………………….. €7,000 The firm’s budget for the year included the View complete question » Contemporary Trends is an interior decorating firm in Munich. The following costs were incurred in the firm’s contract to redecorate the mayor’s offices. Direct material used …………………………………………………………………………………………………………………….. €4,100 Direct professional labor ……………………………………………………………………………………………………………….. €7,000 The firm’s budget for the year included the following estimates: Budgeted overhead …………………………………………………………………………………………………………………… €510,000 Budgeted direct professional labor ……………………………………………………………………………………………….. €300,000 Overhead is applied to contracts using a predetermined overhead rate calculated annually. The rate is based on direct professional labor cost. Required: Calculate the total cost of the firm’s contract to redecorate the mayor’s offices. (Remember to express your answer in terms of euros. On the day this exercise was written the euro was valued at 1.2905 U.S. dollars.) View less » Dec 04 2015 02:32 PM
