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this is the original question Refer to the AccuTax Inc, exhibit One of the partners is planning to retire at the end of the year.

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Refer to the AccuTax 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 $90,000. 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 0.3 hour 0.2 hour 0.5 hour - Complex Individual Return 0.05 hour 0.15 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 $40,000 each. All other operating data remain unchanged. The manager will share 10% of any profit over $500,000 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. Required 1 Required 2 Required 3 What is the budgeted total cost for overtime hours worked by senior consultants? Budgeted total cost for overtime Required 1 Required 2 > Required 1 Required 2 Required 3 How many full-time consultants should be budgeted? (Round down your answer to nearest whole number.) Number of full-time consultants 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. Accu Tax Inc. Budgeted Operating Income For the Year ended December 31, 2019 Revenue Payroll expenses: Partner Manager Senior consultants-base pay Senior consultantspay for overtime hours Consultants-Full-time ConsultantsPart-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 Refer to the AccuTax 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 $90,000. 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 0.3 hour 0.2 hour 0.5 hour - Complex Individual Return 0.05 hour 0.15 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 $40,000 each. All other operating data remain unchanged. The manager will share 10% of any profit over $500,000 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. Required 1 Required 2 Required 3 What is the budgeted total cost for overtime hours worked by senior consultants? Budgeted total cost for overtime Required 1 Required 2 > Required 1 Required 2 Required 3 How many full-time consultants should be budgeted? (Round down your answer to nearest whole number.) Number of full-time consultants 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. Accu Tax Inc. Budgeted Operating Income For the Year ended December 31, 2019 Revenue Payroll expenses: Partner Manager Senior consultants-base pay Senior consultantspay for overtime hours Consultants-Full-time ConsultantsPart-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

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