please answer requirements 1, 2, 3, 4! thank you so much :)
Solution to part 1:
A. Indirect cost pool
B. Legal Support
C.Cost Allocation Base
D. Professional Labor hours.
E. Cost object : Job for client.
F. Indirect cost
G. Direct cost
H. Direct costs
I. Professional Labor requirement.
Solution to part 2:
Budgeted direct cost rate per hour of professional labor = ( Average direct costs per professional / Professional labor hours per professional)
= $ 105,000 / 1500 hours
= $ 70 per hour
Solution to part 3:
Budgeted indirect cost rate per hour of professional labor = ( Budgeted level of Indirect costs / Total professional labor hours)
Total professional labor hours = 30 professionals x 1,500 hrs
= 45,000 hrs
Budgeted indirect cost rate per hour of professional labor = ( 2,835,000 / 45,000)
= $ 63 per hour
Solution to part 4a.
Costs for Richardson Inc. (80 professional labor hours)
Direct costs ( 80 hrs x $70) [computed in part 2] | $ 5,600 |
Indirect Costs ( 80 hrs x $63) [ computed in part 3] | $ 5,040 |
Total costs | $ 10,640 |
The cost estimate for Richardson Inc for litigation work is $ 10,640
Solution to part 4b.
Costs for Punch Inc. (110 professional labor hours)
Direct costs ( 110 hrs x $70) [computed in part 2] | $ 7,700 |
Indirect Costs ( 110 hrs x $63) [ computed in part 3] | $ 6,930 |
Total costs | $ 14,630 |
The cost estimate for Punch Inc for labor contract work is $ 14,630
please answer requirements 1, 2, 3, 4! thank you so much :) Keaton & Associates is...
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