ANSWER 13.25 A AND B ONLY *** 13.24 Forrester and Cohen is a small accounting firm,managed by Joseph Cohen since the retirement in December ofhis partner Brad Forrester. Cohen and his 3 CPAs can togetherbill 640 hours per month. When Cohen or another accountantbills more than 160 hours per month, he or she gets an addi-tional "overtime" pay of $62.50 for each of the extra hours:this is above and beyond the $5,000 salary each draws duringthe month. (Cohen draws the same base pay as his employ-ces.) Cohen strongly discourages any CPA from working (bill-ing) more than 240 hours in any given month. The demand forbillable hours for the firm over the next 6 months is estimatedbelow:MONTHESTIMATE OF BILLABLE HOURSJan.600Feb.500Mar.1,000Apr.1,200May650June590Cohen has an agreement with Forrester, his former partner,to help out during the busy tax season, if needed, for an hourly feeof $125. Cohen will not even consider laying off one of his col-leagues in the case of a slow economy. He could, however, hireanother CPA at the same salary, as business dictates.a) Develop an aggregate plan for the 6-month period.b) Compute the cost of Cohen's plan of using overtime andForrester.c) Should the firm remain as is, with a total of 4 CPA?..13.25 Refer to the CPA firm in Problem 13.24. In planningfor next year, Cohen estimates that billable hours will increase by10% in each of the 6 months. He therefore proceeds to hire a fifthCPA. The same regular time, overtime, and outside consultant(i.e., Forrester) costs still apply.a) Develop the new aggregate plan and compute its costs.b) Comment on the staffing level with five accountants. Was it agood decision to hire the additional accountant?

Find the Given details below: Month Jan Feb Mar Apr May Jun Total Billable Hours 600 500 1000…

13.25 Refer to the CPA firm in Problem 13.24. In planning for next year, Cohen estimates that billable hours will increase by 10% in each of the 6 months. He therefore proceeds to hire a fifth CPA. The same regular time, overtime, and outside consultant (ie, Forrester) costs still apply. a) Develop the new aggregate plan and compute its costs. b) Comment on the staffing level with five accountants. Was it a good decision to hire the additional accountant?

13.25 Refer to the CPA firm in Problem 13.24. In planning for next year, Cohen estimates that billable hours will increase by 10% in each of the 6 months. He therefore proceeds to hire a fifth CPA. The same regular time, overtime, and outside consultant (ie, Forrester) costs still apply. a) Develop the new aggregate plan and compute its costs. b) Comment on the staffing level with five accountants. Was it a good decision to hire the additional accountant?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

ANSWER 13.25 A AND B ONLY

*** 13.24 Forrester and Cohen is a small accounting firm,
managed by Joseph Cohen since the retirement in December of
his partner Brad Forrester. Cohen and his 3 CPAs can together
bill 640 hours per month. When Cohen or another accountant
bills more than 160 hours per month, he or she gets an addi-
tional "overtime" pay of $62.50 for each of the extra hours:
this is above and beyond the $5,000 salary each draws during
the month. (Cohen draws the same base pay as his employ-
ces.) Cohen strongly discourages any CPA from working (bill-
ing) more than 240 hours in any given month. The demand for
billable hours for the firm over the next 6 months is estimated
below:
MONTH
ESTIMATE OF BILLABLE HOURS
Jan.
600
Feb.
500
Mar.
1,000
Apr.
1,200
May
650
June
590
Cohen has an agreement with Forrester, his former partner,
to help out during the busy tax season, if needed, for an hourly fee
of $125. Cohen will not even consider laying off one of his col-
leagues in the case of a slow economy. He could, however, hire
another CPA at the same salary, as business dictates.
a) Develop an aggregate plan for the 6-month period.
b) Compute the cost of Cohen's plan of using overtime and
Forrester.
c) Should the firm remain as is, with a total of 4 CPA?
..13.25 Refer to the CPA firm in Problem 13.24. In planning
for next year, Cohen estimates that billable hours will increase by
10% in each of the 6 months. He therefore proceeds to hire a fifth
CPA. The same regular time, overtime, and outside consultant
(i.e., Forrester) costs still apply.
a) Develop the new aggregate plan and compute its costs.
b) Comment on the staffing level with five accountants. Was it a
good decision to hire the additional accountant?

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