Professional Labor Cost Budget

Day & Spieth, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending March 31, 20Y6:

		Billable Hours
Audit Department:
	Staff	50,000
	Partners	10,000
Tax Department:
	Staff	75,000
	Partners	16,000
Small Business Accounting Department:
	Staff	20,000
	Partners	4,000

Assume that the average compensation per hour for staff is $36 and for partners is $300.

Prepare a professional labor cost budget for Day & Spieth, CPAs, for the year ending March 31, 20Y6. Enter all amounts as positive numbers.

DAY & SPIETH, CPAs
Professional Labor Cost Budget
For the Year Ending March 31, 20Y6
	Staff	Partners
Audit Department hours
Tax Department hours
Small Business Accounting Department hours
Total hours
Average compensation per hour	$	$
Total professional labor cost	$	$