Special Order Decision
SE 6. Smith Accounting Services is considering a special order that it received from one of its corporate clients. The special order calls for Smith to prepare the individual tax returns of the corporation’s four-largest shareholders. The company has idle capacity that could be used to complete the special order. The following data have been gathered about the preparation of individual tax returns:
| Materials cost per page | $1 |
| Average hourly labor rate | $60 |
| Standard hours per return | 4 |
| Standard pages per return | 10 |
| Variable overhead cost per page | $0.50 |
| Fixed overhead cost per page | $0.50 |
Smith Accounting Services would be satisfied with a $40 gross profit per return. Compute the minimum bid price for the entire order.
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