please answer the following questions based on the job cost accounting
Please answer the following questions based on the job cost accounting information providedbelow. Assumptions:The prime contract value is $120,000.Two tables are provided with the estimated and actual costs for a project.For this job, your company is planning to allocate 25% of its indirect labor costs to the project.Your company's corporate overhead rate is forecasted at 18% of revenues.Assume that all monthly costs are invoiced at the end of the month. NOTE: The tables below are also provided as a downloadable MS Excel Spreadsheet on Blackboard (Q15 – Job Cost Accounting Information).
20. Which items are considered as job costs? Select all that apply. *Labor Materials *Subcontracts *Home Office Rental *Field Office & Site Facilities *Project Management *Insurance & Bonding *Estimator Salary *Home Office Admin Staff At the end of month 2, the project is at what actual percentage of completion? (provide answer rounded to the nearest whole percent and do not insert the percent sign) What is the amount of profit that your company had planned for this project? (Please insert the value only, do not include the dollar sign) Relative to the planned amount of profit, your company actually earned: *More than the planned amount of profit *Less than the planned amount of profit *Exactly the planned amount of profit.
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