Review View Help Paragraph 2 Normal No Spacing Heading 1 Heading 2 Rollins and Cohen, CPAS Professional Labor Cost Budget For the Year Ending December 31, 20Y7 Audit department hours Tax department hours Small business accounting department hours Total hours Average compensation per hour Total professional labor cost $ X Staff Styles x $ Partners I

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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year. Each set requires 2.5 hours to polish the material.
If polishing labor costs $15.00 per hour, determine the direct labor cost budget for polishing for
3,000,000
the year.
EX.22-08.ALGO Professional Labor Cost Budget for a Service Company
Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small
business accounting. Based on experience and projected growth, the following billable hours
have been estimated for the year ending December 31, 2017:
Audit Department:
Staff
Partners
Tax Department:
m, CPAS
Cost Budget
Staff
Partners
Small Business Accounting
Department:
Staff
Billable
Hours
44,200
6,600
32,300
4,000
5,700
800
Partners
Based on the data provided above and assuming that the average compensation per hour for
staff is $50 and for partners is $145, prepare a professional labor cost budget for each
department for Rollins and Cohen, CPAs, for the year ending December 31, 2017.
W9-Budgeting Exercise #3.docx
DF
7:37 PM
DOLL с
3/8/2024
100%
Transcribed Image Text:ng Heading 1 Heading 2 Title Styles Г Comments Editing v Share Find v E rM Replace Dictate Sensitivity Editor Add-ins Read on reMarkable Select Editing Voice Sensitivity Editor Add-ins reMarkable year. Each set requires 2.5 hours to polish the material. If polishing labor costs $15.00 per hour, determine the direct labor cost budget for polishing for 3,000,000 the year. EX.22-08.ALGO Professional Labor Cost Budget for a Service Company Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2017: Audit Department: Staff Partners Tax Department: m, CPAS Cost Budget Staff Partners Small Business Accounting Department: Staff Billable Hours 44,200 6,600 32,300 4,000 5,700 800 Partners Based on the data provided above and assuming that the average compensation per hour for staff is $50 and for partners is $145, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 2017. W9-Budgeting Exercise #3.docx DF 7:37 PM DOLL с 3/8/2024 100%
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Rollins and Cohen, CPAS
Professional Labor Cost Budget
For the Year Ending December 31, 20Y7
Audit department hours
Tax department hours
Small business accounting department hours
Total hours
Staff
Styles
Average compensation per hour
x $
x $
Total professional labor cost
Partners
I
Transcribed Image Text:Review View Help Paragraph 2 Normal No Spacing Heading 1 Heading 2 Rollins and Cohen, CPAS Professional Labor Cost Budget For the Year Ending December 31, 20Y7 Audit department hours Tax department hours Small business accounting department hours Total hours Staff Styles Average compensation per hour x $ x $ Total professional labor cost Partners I
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