Mr$.$ Taylor's small consulting firm specializes in providing internal control advice to his clients. All of his staff are certified internal

auditors $($CIAs$)$ and want to gain expertise in a variety of industries. Jonas, his most senior consultant, always brings a less$-$seasoned

associate with him for efficiency, training, and general camaraderie. Jonas first assesses a situation in about $8$ hours and then will

brainstorm ideas the client could use to address its internal control risks. The less$-$seasoned associate follows Jonas, listens to the half$-$

day assessment ritual, and then helps to brainstorm improvements for the client. Jonas's labor rate is billed at $$\frac{280}{h}$our, while the

associate's billing rate is half that amount.

$($a$)$

Your answer is correct.

Mr$.$ Taylor believes Jonas operates on a $80\%$ learning curve for the "assessment" portion of his work, while his associate operates

on a $85\%$ learning curve. Create a chart outlining the number of hours each of these individuals is likely to spend on the next

assessment of a client's internal controls. How much time will Mr$.$ Taylor expect each of them to spend on their fourth such

assessment of a client's internal controls? $($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Jonas

Jonas' associate

Time spent on the fourth assessment

hours

hours

eTextbook and Media

Attempts: $1$ of $3$ used

$($b$)$

Calculate the total billing amount for Jonas and his associate for their $(1)$ first client assessment session and $(2)$ second client

assessment session. State whether they are the same or different.

Total billing amount for the first assessment

$

Total billing amount for the second assessment

$

The billing amount for the second assessment would be

the billing amount was for the first assessment.