Optimum Finance Incorporated provides budget, savings, and investment services to clients who want a stress-free financial lifestyle. The company customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. The company uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. • Optimum applies all indirect operating costs (e.g. rent, utilities, and management salaries) as a percentage of the consultant's labor cost. During the most recent year, the firm estimated that it would pay $600,000 to its consultants and incur indirect operating costs of $1,170,000. Actual consultant labor costs were $645,000 and actual indirect operating costs were $1,145,000 During the year, Optimum provided 44 hours of consulting services to Joan Clair for which Optimum pays an average of $26 per hour. What is the total cost of providing services to Joan? Multiple Choice O O $3.327 $3,175 $3.375 $1731

Optimum Finance Incorporated provides budget, savings, and investment services to clients who want a stress-free financial lifestyle. The company customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. The company uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. • Optimum applies all indirect operating costs (e.g. rent, utilities, and management salaries) as a percentage of the consultant's labor cost. During the most recent year, the firm estimated that it would pay $600,000 to its consultants and incur indirect operating costs of $1,170,000. Actual consultant labor costs were $645,000 and actual indirect operating costs were $1,145,000 During the year, Optimum provided 44 hours of consulting services to Joan Clair for which Optimum pays an average of $26 per hour. What is the total cost of providing services to Joan? Multiple Choice O O $3.327 $3,175 $3.375 $1731

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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