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of the two appraisers are Annual Salary Billable Hours as The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie's and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 25 percent markup. Required 1 Debbie $ 157,920 2,100 Required: 1. Compute the predetermined overhead rate. 2. Compute the hourly billing rates for Debbie and Tara Required 2 Complete this question by entering your answers in the tabs below. Tara $ 83,620 1,850 Predetermined Overhead Rate Compute the predetermined overhead rate. % of Salary Cost < Required t Required 2 >

of the two appraisers are Annual Salary Billable Hours as The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie's and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 25 percent markup. Required 1 Debbie $ 157,920 2,100 Required: 1. Compute the predetermined overhead rate. 2. Compute the hourly billing rates for Debbie and Tara Required 2 Complete this question by entering your answers in the tabs below. Tara $ 83,620 1,850 Predetermined Overhead Rate Compute the predetermined overhead rate. % of Salary Cost < Required t Required 2 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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McBride and Associates employs two professional appraisers, each having a different specialty. Debble specializes in commercial appraisals and Tara specializes in residential appraisals. The company expects to incur total overhead costs of $362,310 during the year and applies overhead based on annual salary costs. The salaries and billable hours of the two appraisers are estimated to be as follows: Annual Salary Billable Hours Debbie $ 157,920 2,100 The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie's and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 25 percent markup. Required: 1. Compute the predetermined overhead rate. 2. Compute the hourly billing rates for Debbie and Tara Required 1 Required 2 Tara $ 83,620 1,850 Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate. Predetermined Overhead Rate % of Salary Cost < Required f Required 2 >
Transcribed Image Text:McBride and Associates employs two professional appraisers, each having a different specialty. Debble specializes in commercial appraisals and Tara specializes in residential appraisals. The company expects to incur total overhead costs of $362,310 during the year and applies overhead based on annual salary costs. The salaries and billable hours of the two appraisers are estimated to be as follows: Annual Salary Billable Hours Debbie $ 157,920 2,100 The accountant for McBride and Associates is computing the hourly rate that should be used to charge clients for Debbie's and Tara's services. The hourly billing rate should be set to cover the total cost of services (salary plus overhead) plus a 25 percent markup. Required: 1. Compute the predetermined overhead rate. 2. Compute the hourly billing rates for Debbie and Tara Required 1 Required 2 Tara $ 83,620 1,850 Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate. Predetermined Overhead Rate % of Salary Cost < Required f Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the hourly billing rates for Debbie and Tara. Note: Do not round your intermediate calculations, and round your finial answers to 2 decimal places Billing Rate Debbie Tara < Required 1 Frequired
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the hourly billing rates for Debbie and Tara. Note: Do not round your intermediate calculations, and round your finial answers to 2 decimal places Billing Rate Debbie Tara < Required 1 Frequired
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