Professional Labor Cost Budget for a Service Company

Rollins and Cohen, 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 month ending January $31,20Y7$ :

Billable Hours

$\backslash$table$[[$Audit Department:,$29,200],[$Staff$,4,400],[$Partners$,],[$Tax Department:,$21,600],[$Staff$,2,700],[$Partners$,],[$Small Business Accounting Department:,$3,500],[$Staff$,500],[$Partners$,]]$

Based on the data provided above and assuming that the average compensation per hour for staff is $$30$ and for partners is $$125,$ prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the month ending January $31,20$ Y$7.$

Rollins and Cohen, CPAs

Professional Labor Cost Budget

For the Month Ending January $31,20Y7$

For the Month Ending January $31,20$Y$7$

Staff Partners Total

Hours required for professional services

Audit department hours