1. Compute the 2017 budgeted direct-cost rates for (a) professional partners and (b) professional associates.

2. Compute the 2017 budgeted indirect-cost rates for (a) general support and (b) secretarial support.

3. Compute the budgeted costs for the Richardson and Punch jobs, given the following information:

	Richardson, Inc.	Punch, Inc.
Professional partners	32 hours	27 hours
Professional associates	48 hours	108 hours

4. Comment on the results in requirement 3. Why are the job costs different from those computed using the firm's previous method?

5. Would you recommend KinnettKinnett & Associates use the job-costing system in the previous method or the job-costing system in this problem? Explain.

Kinnett & Associates is a law firm specializing in labor relations and employee-related work. It employs 20 professionals 5 partners and 15 associates) who work directly with its clients. Previously the firm accounted for all professional labor cost in a single direct-cost account and all other costs in a single indirect-cost pool Kinnett has just completed a review of its job-costing system. ? (Click the icon to view the job-costing review information.) Budgeted information for 2017 related to the two direct-cost categories is as follows: EB (Click the icon to view the budgeted information.) Read the requirements. ?(Click the icon to view the cost information and rates under the previous method.) Data Table Requirement 1. Compute the 2017 budgeted direct-cost rates for (a) professional partners and (b) professional associates. Begin by selecting the formula, then enter the amounts to compute both rates. (Abbreviations used: Assoc. = Associate.) Budgeted direct- cost rate per hour per hour per hour Partner Assoc