Exercise 9-30 Professional Services Budget; Dental Practice; Activity-Based Budgeting (LO 9-3, 9-4, 9-5) Metropolitan Dental Associates is a large dental practice in Chicago. The firm's controller is preparing the budget for the next year. The controller projects a total of 60.000 office visits to be evenly distributed throughout the year. Eighty percent of the visits will be half- hour appointments, and the remainder will be one-hour visits. The average rates for professional dental services are $70 for half-hour appointments and $125 for one-hour office visits. Ninety percent of each month's professional service revenue is collected during the month when services are rendered, and the remainder is collected the month following service. Uncollectible billings are negligible. Metropolitan's dental associates earn $105 per hour. Metropolitan uses activity-based budgeting to budget office overhead and administrative expenses. Two cost drivers are used: office visits and direct professional labor. The cost-driver rates are as follows: Patient registration and records All other overhead and dinistrative expenses $2.50 per office visit of any length) $7.30 per direct professional labor hour Required: 1. Prepare the direct professionalHabor budget schedule for the month of June 2. Prepare the budget schedule for cash collections during June for professional services rendered during May and June. 3. Prepare the overhead and administrative expense budget schedule for the month of June. Complete this question by entering your answers in the tabs below. Required Required Prepare the direct-professional labor budget schedule for the month of June. Professional services in June One hour waits Te direct professional labor Hout Borders Total direct professional labor cost Red 2 > Exercise 9-30 Professional Services Budget; Dental Practice; Activity-Based Budgeting (LO 9-3, 9-4, 9-5) Metropolitan Dental Associates is a large dental practice in Chicago. The firm's controller is preparing the budget for the next year. The controller projects a total of 60,000 office visits to be evenly distributed throughout the year. Eighty percent of the visits will be half- hour appointments, and the remainder will be one-hour visits. The average rates for professional dental services are 570 for half-hour appointments and $125 for one hour office visits, Ninety percent of each month's professional service revenue is collected during the month when services are rendered, and the remainder is collected the month following service. Uncollectible billings are negligible. Metropolitan's dental associates earn $105 per hour. Metropolitan uses activity-based budgeting to budget office overhead and administrative expenses. Two cost drivers are used office visits and direct professional labor. The cost-driver rates are as follows: Patient registration and records All other overhead and ministrative expenses $2.50 per office visit of any length) 57.10 per direct professional Labor hour Required: 1. Prepare the direct-professional-abor budget schedule for the month of June 2. Prepare the budget schedule for cash collections during June for professional services rendered during May and June 3. Prepare the overhead and administrative expense budget schedule for the month of June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the budget schedule for cash collections during June for professional services rendered during May and June. Half hour visits Billing One-hour visits Bilingus Total bilings for one hour visits Ta gs during more Percentage of one's bags collected during June Collections during June Total collection