TB MC Qu. 3-99 Use the following labor budget data... Use the following labor budget data for Roy & Miller Accounting, LLP. Partner Salaries Partner Benefits (45%) Total Partner Compensation Staff Accountant Salaries Staff Benefits (45%) Total Staff Compensation $ 900,000 405,000 $1,305,000 $1,000,000 450,000 $1,450,000 The budgeted overhead cost for the year is $2,975,400. The company has estimated that one-third of the budgeted overhead cost is incurred to support the firm's two partners, and two-thirds goes to support the staff accountants. The current audit bid for Monoco Industries requires $22,000 in direct partner professional labor, $35,000 in direct staff accountant professional labor, $4,900 in direct material. If overhead is applied on the Monoco engagement based on two separate cost drivers, what is the cost of the engagement? Multiple Choice $131,400 $109,780 $64,600