question archive Based on the data in Exercise 21-7 and assuming that the average compensation per hour for staff is $40 and for partners is $150, prepare a professional labor cost budget for each department for Perez and Ford, CPAs, for the year ending December 31, 2012
Based on the data in Exercise 21-7 and assuming that the average compensation per hour for staff is $40 and for partners is $150, prepare a professional labor cost budget for each department for Perez and Ford, CPAs, for the year ending December 31, 2012
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Based on the data in Exercise 21-7 and assuming that the average compensation per hour for staff is $40 and for partners is $150, prepare a professional labor cost budget for each department for Perez and Ford, CPAs, for the year ending December 31, 2012. Use the following column heading:
Staff Partner
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1 |
PEREZ AND FORD, CPAs |
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2 |
Professional Labor Cost Budget |
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3 |
For the Year Ending December 31, 2012 |
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4 |
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Staff |
Partners |
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5 |
Audit Department hours |
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19,200 |
6,200 |
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6 |
Tax Department hours |
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12,300 |
4,100 |
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7 |
Small Business Accounting Department hours |
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4,900 |
1,900 |
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8 |
Total hours |
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36,400 |
12,200 |
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9 |
Average compensation per hour |
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× $40.00 |
× $150.00 |
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10 |
Total professional labor cost |
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$1,456,000 |
$1,830,000 |
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