Based on the data provided above and assuming that the average compensation per

Question

Based on the data provided above and assuming that the average compensation per hour for staff is $45 and for partners is $140, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 2014.

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Based on the data provided above and assuming that the average compensation per hour for staff is $45 and for partners is $140, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 2014.

Rollins and Cohen, CPAs Professional Labor Cost Budget For the Year Ending December 31, 2014 Staff Partners Audit department hours Tax department hours Small business accounting department hours Total hours Average compensation per hour x $ x $ Total professional labor cost $ $

Explanation / Answer

Rollins and Cohen, CPAs Professional Labor Cost Budget For the Year Ending December 31, 2014 Staff Partners Audit department hours 22400 7900 Tax department hours 13200 5500 Small business accounting department hours 3000 600 Total hours 38600 14000 Average compensation per hour 45 140 Total professional labor cost        1,737,000        1,960,000

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