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  3. an accounting firm completes an audit for a local

An accounting firm completes an audit for a local union and has the following cost....

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Accounting

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An accounting firm completes an audit for a local union and has the following cost. information for the year. - Indirect labor: $60,000 - Office lease: $22,000 - Depreciation on office equipment: $8,000 - Marketing expense: $20,000 - Utilities: $15,000 The firm's direct labor costs are budgeted at $500,000 for the year and overhead is allocated based on direct labor costs. The firm used 1 partner and 2 audit associates on the audit. Partners are paid $150 per hour while audit associates earn $50 per hour. The partner spent 6 hours on the engagement while the audit associates spent a total of 40 hours. What is the cost of the audit

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