TB MC Qu. 3-97 Use the following labor budget data... Use the following labor budget data for Roy & Miller Accounting, LLP. Partner Salaries $ 700, 000 Partner Benefits (45%) 315, 000 Total Partner Compensation $1, 015, 000 Staff Accountant Salaries $ 800, 000 Staff Benefits (45%) 360, 000 es Total Staff Compensation $1, 160, 000 The budgeted overhead cost for the year is $2,131,500. The company has estimated that one-third of the budgeted over-head cost is incur the firm's two partners, and two-thirds goes to support the staff accountants. The current audit bid for Monoco Industries requires $20,000 partner professional labor, $32,000 in direct staff accountant professional labor, $4,700 in direct material. What is the overhead rate for staff accountants, if separate rates are used for partners and staff accountants