Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Optimum Finance incorporated provides budget, savings, and investment services to clients who want a stress-free financial ifestyle. The company customizes a program for each client

image text in transcribed
image text in transcribed
Optimum Finance incorporated provides budget, savings, and investment services to clients who want a stress-free financial ifestyle. The company customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. The company uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. Optimum applies all indirect operating costs (eg, rent. utilibes, and management salaries) as a percentage of the consultant's labor cost. During the most recent yeat, the firm estimated that it would poy $425,000 to its consultants and incur indirect operating costs of $680,000 Actual consultant labor costs were $456,90 p and actual indirect operating costs were $655,000. During the year, Optimum provided 64 hours of consulting services to Robert Howard for which Optimum pays an average of $20 per hour. What is the total cost of providing services to Robert? Multiple Choice $2.080 $3328 $3115 $3.253 Optimum Finance incorporated provides budget, savings, and investment services to clients who want a stress-free financial ifestyle. The company customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. The company uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. Optimum applies all indirect operating costs (eg, rent. utilibes, and management salaries) as a percentage of the consultant's labor cost. During the most recent yeat, the firm estimated that it would poy $425,000 to its consultants and incur indirect operating costs of $680,000 Actual consultant labor costs were $456,90 p and actual indirect operating costs were $655,000. During the year, Optimum provided 64 hours of consulting services to Robert Howard for which Optimum pays an average of $20 per hour. What is the total cost of providing services to Robert? Multiple Choice $2.080 $3328 $3115 $3.253

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Managerial Accounting

Authors: Peter C. Brewer

Custom Edition

0077842987, 978-0077842987

More Books

Students also viewed these Accounting questions

Question

Does Venezuela have a democratic or totalitarian political system?

Answered: 1 week ago

Question

2. Outline the business case for a diverse workforce.

Answered: 1 week ago