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 year ending December 31, 20Y8: Billable Hours Audit Department Staff 35,500 Partners 5,300 Tax Department: Staff 27,000 Partners 3,400 Small Business Accounting Department Staff 4,600 Partners 600 Based on the data provided above and assuming that the average compensation per hour for staff is $65 and for partners is $160, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 20Y8 Rollins and Cohen, CPAs Professional Labor Cost Budget For the Year E December 31, 20Y8 Staff Partners Audit Department hours Tax Department hours Small Business Accounting Department hours Total hours Average compensation per hour Total professional labor cost