Professional Labor Cost Budget for a Service Company Roberts and Chou, 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 December 31, 2016: Billable Hours Audit Department: Staff 40,600 Partners 6,100 Tax Department: Staff 29,600 Partners 3,700 Small Business Accounting Department: Staff 5,700 Partners 800 Based on the data provided above and assuming that the average compensation per hour for staff is $55 and for partners is $150, prepare a professional labor cost budget for each department for Roberts and Chou, CPAs, for the year ending December 31, 2016 Roberts and Chou, CPAs Professional Labor Cost Budget For the Year Ending December 31, 2016 Staff Partners Audit department hours Tax department hours Small business accounting department hours Total hours Average compensation per hour Total professional labor cost