Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 22 of 25 0.5 Points Grand law firm employs 30 full-time professionals, The budgeted annual compensation per employee is $81,000. The average chargeable time

image text in transcribed
Question 22 of 25 0.5 Points Grand law firm employs 30 full-time professionals, The budgeted annual compensation per employee is $81,000. The average chargeable time is 390 hours per client annually. All professional labor costs are included in a single direct-cost category and are allocated to jobs on a per hour basis. Other costs are included in a single indirect-cost pool, allocated according to professional labor hours. Budgeted indirect costs for the year are 5600,000, and the firm expects to have 40 clients during the coming year. What is the budgeted indirect-cost rate per hour? O A $19.27 per hour B. $28.10 per hour C. 565.37 per hour D. $38.46 per hour Reset Selection

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

CIA Part 1 Essentials Of Internal Auditing Certified Internal Auditor 2019

Authors: Muhammad Zain

1st Edition

1091949182, 978-1091949188

More Books

Students also viewed these Accounting questions

Question

politeness and modesty, as well as indirectness;

Answered: 1 week ago