Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. an accounting firm uses billable hours as the cost

An accounting firm uses billable hours as the cost driver for their office-wide overhead rate...

70.2K

Verified Solution

Question

Accounting

image
An accounting firm uses billable hours as the cost driver for their office-wide overhead rate and expect to incur the following costs for the upcoming year: Direct labour $558,000 Office Overhead Expenses $159,000 Admin. Staff Overhead $427,000 Other budgeted data for the accounting firm for the coming year includes: Budgeted Billable hours 2700 Number of Clients Billed 42 At the end of the year the firm has actually billed 2767 hours to clients and actual overhead was as budgeted. Using the office-wide overhead application rate, during the year how much Overhead was billed to a client for each billable hour recorded on their account? (round to nearest dollar)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the ISO/IEC FDIS17025 INTERNATIONAL STANDARD and what is used for becaus our professor...

Mechanical Engineering
Q

Use the Matlab code discussed in class to build a simulator for the digital modulation scheme...

Advance Math
Q

“The ordering of the three sections of the statement of cash flows is ‘backwards’ for start-up...

Accounting
Q

Graph the following ellipse Give the domain range center vertices endpoints of the minor axis...

Geometry
Q

Which of the following is an ingredient of faithful representation O a Confirmatory value O...

Basic Math
Q

K The accompanying table describes results from groups of 10 b variable x represents the...

Statistics
Q

A company constructs a building for its own use. Construction began on January...

Accounting
Q

Blossom Services, Inc. is trying to establish the standard labor cost of a typical brake...

Accounting
Q

Your answer is correct. Hanson Co. had 200,000 ordinary shares, 20,000 shares of convertible...

Accounting
Q

The following information is available to reconcile Branch Companys book balance of cash with its...

Accounting
Q

Here is the income statement for Blue Spruce, Inc BLUE SPRUCE, INC. Income Statement For...

Accounting
Q

Lincolnshire Associates tiene bonos por pagar en circulacin, con un valor nominal de $120,000 y...

Accounting