There are 4 parts to the question

Foley Associates, a law firm, hires Attorney Lucy Jodoin at an annual salary of $126,500. The law firm expects her to spend 2,300 hours a year performing legal work for clients. Indirect costs are assigned to clients based on attorney billing hours. Firm attorneys are expected to work a total of 14,000 direct labor hours this year. Before the fiscal year begins, Foley estimates that the total indirect costs for the upcoming year will be $280,000. Read the requirements. 1. What would be the hourly (cost) rate to Foley Associates of employing Jodoin? Identify the correct formula and compute the hourly rate. 2. If Jodoin works on Client 367 for 18 hours, what direct labor cost would be traced to Client 367 ? 3. What is the indirect cost allocation rate? 4. What indirect costs will be allocated to Client 367 ? 5. What is the total job cost for Client 367