1. 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
   Audit Department:
   	Staff	39,000
   	Partners	5,900
   Tax Department:
   	Staff	30,000
   	Partners	3,800
   Small Business Accounting Department:
   	Staff	5,500
   	Partners	800

   Based on the data provided above and assuming that the average compensation per hour for staff is $70 and for partners is $165, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the month ending January 31, 20Y7.

   Rollins and Cohen, CPAs Professional Labor Cost Budget For the Month Ending January 31, 20Y7

   	Staff	Partners	Total
   Hours required for professional services
   Audit department hours	fill in the blank 1	fill in the blank 2
   Tax department hours	fill in the blank 3	fill in the blank 4
   Small business accounting department hours	fill in the blank 5	fill in the blank 6
   Total hours	fill in the blank 7	fill in the blank 8
   Average compensation per hour	x $fill in the blank 9	x $fill in the blank 10
   Total professional labor cost	$fill in the blank 11	$fill in the blank 12	$fill in the blank 13