Refer to the Acculex Inc. exhibit One of the partners is planning to retire at the end of the year. May Higgins, the sole remaining partner, plans to add a manager at an annual salary of $91,920. She expects the manager to work on average, 45 hours a week for 45 weeks per year. She plans to change the required staff time for each hour spent to complete a tax return to the following: Simple Individual Return Partner Manager Senior consultant Consultant Business Return 0.4 hour 0.1 hour 0.5 hour Complex Individual Return 0.07 hour 0.13 hour 0.40 hour 0.40 hour 0.2 hour 0.8 hour The manager is salaried and earns no overtime pay, Senior consultants are salaried but receive time and a half for any overtime worked. The firm plans to keep all the senior consultants and adjust the number of consultants as needed including employing part- time consultants, who also are paid on an hourly basis. Higgins has also decided to have five supporting staff at $51.000 each. All other operating data remain unchanged. The manager will share 13% of any profit over $480,000 before bonus Required: 1. What is the budgeted total cost for overtime hours worked by senior consultants? 2. How many full-time consultants should be budgeted? 3. Determine the manager's total compensation and total pretax operating income for the firm, assuming that the revenues from preparing tax returns remain unchanged. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the budgeted total cost for overtime hours worked by senior consultants? Budgend total cost for overtime Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How many full-time consultants should be budgeted? (Round down your answer to nearest whole number. I Number of time tonsultants Required 1 Required 2 Required 3 Determine the manager's total compensation and total pretax operating income for the firm, assuming that the revenues from preparing tax returns remain unchanged. AccuTax Inc. Budgeted Operating Income For the Year ended December 31, 2019 Revenue Payroll expenses: Partner Manager Senior consultants-base pay Senior consultants pay for overtime hours Consultants Full-time Consultants-Part-time Support staff General and administrative expenses Operating income before bonus to manager Less: Manager's bonus Operating income before taxes Total compensation for the manager, Salary Bonus Total Avale, Accu Tine provides an ice to all times and individuals. It exports to have the following revenues from preparing tax return for the year and December 31, 2019 Tax returns for business forms $1.000.000 Individual tax returns Simple returns $1.640.000 Complex returns 1.200.000 2840.000 Total revenues $3.840.000 The firm has 2 partner senior consultants and 30 consultants. On menge, a partner wake 50 hours a week and is paid $250 a year. Both senior consultants and consultants are expected to work 40 hours a work prospectively. $90,000 and S.000 a year. The annual compensation for supporting staff i S000 per full-time equivalent. The number of supporting salaries with the size of the fingeral. One supporting star person is needed for every 2 urten, ce for every senior cortants, and one for every 10 consultants. After allowing for vacation, sickness and continuing education days, the weeks per year available to work with clients are 10 weeks for each partner 45 weeks for each senior consultant and wecks for each. All partners and senior consultants are full-time professional Teen The Pimentimate the following required proportion of professional me for each hour spent to complete chof the three different class cations of use Business Retur Simple Individual Complex individual Partner 40 10% Senior Consultant GO 10 40 Constant 50 General and administrative experime SI50,000 per year, plus o of the Bestal poll. The firm charge 250 per hour for his ans, $100 per hour for individ and returns with complicated tax matters and $50 per hour for simple individual tax return The budgeted revenue and the total hours for each of the returns for the coming year areas Budgeted Revenue Hourly Charge Rate Required Hours Busturs 51.000.000 4.000 Individuals Sampleretur 1.640.000 50 32.100 Complex return 1 200.000 100 12 000 Total 13.300.000 4.300 The following the stars the predicaments for the bene Total Hours Partner Senior Consultant Consultant Business returns 4.000 1.600 2.400 Complex dividuntur 12.000 1200 400 6.000 Samolendidates 32.100 2.20 29.520 Total hours 4380 2.300 TO 480 35.520 Hours per week 40 -10 Eu number of work w Wie er profesional Nm offesional bors needed GT 10.1 wted wit Changin The best show that Aceh utic potessoal wat so support the expected activity Assuming As plans och planine the same wat vel. budged operating income will be SONO inhib 10.1 ACCUTAX INC For the Year End December 31, 2017 3.140.000 Fans 300.000 - 500.000 SXS 720.00 Coats 20 000 200.000 Sporting SOOO 300 000 2.JODO Gew 412000 pen come 000 Refer to the Acculex Inc. exhibit One of the partners is planning to retire at the end of the year. May Higgins, the sole remaining partner, plans to add a manager at an annual salary of $91,920. She expects the manager to work on average, 45 hours a week for 45 weeks per year. She plans to change the required staff time for each hour spent to complete a tax return to the following: Simple Individual Return Partner Manager Senior consultant Consultant Business Return 0.4 hour 0.1 hour 0.5 hour Complex Individual Return 0.07 hour 0.13 hour 0.40 hour 0.40 hour 0.2 hour 0.8 hour The manager is salaried and earns no overtime pay, Senior consultants are salaried but receive time and a half for any overtime worked. The firm plans to keep all the senior consultants and adjust the number of consultants as needed including employing part- time consultants, who also are paid on an hourly basis. Higgins has also decided to have five supporting staff at $51.000 each. All other operating data remain unchanged. The manager will share 13% of any profit over $480,000 before bonus Required: 1. What is the budgeted total cost for overtime hours worked by senior consultants? 2. How many full-time consultants should be budgeted? 3. Determine the manager's total compensation and total pretax operating income for the firm, assuming that the revenues from preparing tax returns remain unchanged. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the budgeted total cost for overtime hours worked by senior consultants? Budgend total cost for overtime Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How many full-time consultants should be budgeted? (Round down your answer to nearest whole number. I Number of time tonsultants Required 1 Required 2 Required 3 Determine the manager's total compensation and total pretax operating income for the firm, assuming that the revenues from preparing tax returns remain unchanged. AccuTax Inc. Budgeted Operating Income For the Year ended December 31, 2019 Revenue Payroll expenses: Partner Manager Senior consultants-base pay Senior consultants pay for overtime hours Consultants Full-time Consultants-Part-time Support staff General and administrative expenses Operating income before bonus to manager Less: Manager's bonus Operating income before taxes Total compensation for the manager, Salary Bonus Total Avale, Accu Tine provides an ice to all times and individuals. It exports to have the following revenues from preparing tax return for the year and December 31, 2019 Tax returns for business forms $1.000.000 Individual tax returns Simple returns $1.640.000 Complex returns 1.200.000 2840.000 Total revenues $3.840.000 The firm has 2 partner senior consultants and 30 consultants. On menge, a partner wake 50 hours a week and is paid $250 a year. Both senior consultants and consultants are expected to work 40 hours a work prospectively. $90,000 and S.000 a year. The annual compensation for supporting staff i S000 per full-time equivalent. The number of supporting salaries with the size of the fingeral. One supporting star person is needed for every 2 urten, ce for every senior cortants, and one for every 10 consultants. After allowing for vacation, sickness and continuing education days, the weeks per year available to work with clients are 10 weeks for each partner 45 weeks for each senior consultant and wecks for each. All partners and senior consultants are full-time professional Teen The Pimentimate the following required proportion of professional me for each hour spent to complete chof the three different class cations of use Business Retur Simple Individual Complex individual Partner 40 10% Senior Consultant GO 10 40 Constant 50 General and administrative experime SI50,000 per year, plus o of the Bestal poll. The firm charge 250 per hour for his ans, $100 per hour for individ and returns with complicated tax matters and $50 per hour for simple individual tax return The budgeted revenue and the total hours for each of the returns for the coming year areas Budgeted Revenue Hourly Charge Rate Required Hours Busturs 51.000.000 4.000 Individuals Sampleretur 1.640.000 50 32.100 Complex return 1 200.000 100 12 000 Total 13.300.000 4.300 The following the stars the predicaments for the bene Total Hours Partner Senior Consultant Consultant Business returns 4.000 1.600 2.400 Complex dividuntur 12.000 1200 400 6.000 Samolendidates 32.100 2.20 29.520 Total hours 4380 2.300 TO 480 35.520 Hours per week 40 -10 Eu number of work w Wie er profesional Nm offesional bors needed GT 10.1 wted wit Changin The best show that Aceh utic potessoal wat so support the expected activity Assuming As plans och planine the same wat vel. budged operating income will be SONO inhib 10.1 ACCUTAX INC For the Year End December 31, 2017 3.140.000 Fans 300.000 - 500.000 SXS 720.00 Coats 20 000 200.000 Sporting SOOO 300 000 2.JODO Gew 412000 pen come 000