A lawyer has two clients. She charges a yearly retainer plus a separate fee for each consultation. The retainer is a fee each client pays just to secure the services of the lawyer for the following year, and the consultation fee is the price the lawyer charges to do one legal job for the client. The clients' annual demand curves for legal jobs are Client 1: Upper Q 1 equals 22 minus Upper P Client 2: Upper Q 2 equals 20 minus 2 Upper P where P is the consultation fee in thousands of dollars for one legal job and Upper Q Subscript i is the number of legal jobs done for client i. The lawyer's marginal cost for completing one legal job is 3.3 (also in thousands of dollars). The lawyer wants to determine the fee schedule (retainer and consultation fee) that will maximize her profit. She feels she cannot use a different fee schedule for each client, so she must set one retainer and one consultation fee that apply to both clients. She should charge a consultation fee of $___________ thousand per legal job. (Enter your response rounded to two decimal places.) She should charge a retainer fee of $________
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A lawyer has two clients. She charges a yearly retainer plus a separate fee for each consultation. The retainer is a fee each client pays just to secure the services of the lawyer for the following year, and the consultation fee is the price the lawyer charges to do one legal job for the client. The clients' annual demand curves for legal jobs are Client 1: Upper Q 1 equals 24 minus Upper PQ1=24−P Client 2: Upper Q 2 equals...
Hummingbird Design, Inc. is a Web site design and consulting
firm. The firm uses a job order costing system in which each client
is a different job. Hummingbird Design assigns direct labor,
licensing costs, and travel costs directly to each job. It
allocates indirect costs to jobs based on a predetermined overhead
allocation rate, computed as a percentage of direct labor
costs.
Read the Requirements
1.) Compute Hummingbird Design's direct labor rate and its
predetermined overhead allocation rate for 2018....
Terry Smith and two of his colleagues are considering opening a law office in a large metropolitan area that would make inexpensive legal services available to those who could not otherwise afford services. The intent is to provide easy access for their clients by having the office open 360 days per year, 16 hours each day from 7:00 a.m. to 11:00 p.m. The office would be staffed by a lawyer, paralegal, legal secretary, and clerk-receptionist for each of the two...
Terry Smith and two of his colleagues are considering opening a law office in a large metropolitan area that would make inexpensive legal services available to those who could not otherwise afford services. The intent is to provide easy access for their clients by having the office open 360 days per year, 16 hours each day from 7:00 a.m. to 11:00 p.m. The office would be staffed by a lawyer, paralegal, legal secretary, and clerk-receptionist for each of the two...
Help me finish the remaining sections. It's pretty self
explanatory on here but i am busy with work so i am unable to
finish it. The requirements and needed information are included on
the pictures. I answered most of the sections but i need
requirement 2 and requirement 3 still
Cardinal Design, Inc. is a Web site design and consulting firm. The firm uses a job order costing system in which each client is a different job. Cardinal Design assigns...
As Sales Manager for Montevideo Productions, Inc., you are planning to review the prices you charge clients for television advertisement development. You currently charge each client an hourly development fee of $2,900. With this pricing structure, the demand, measured by the number of contracts Montevideo signs per month, is 11 contracts. This is down 7 contracts from the figure last year, when your company charged only $2,200. (a) Construct a linear demand equation giving the number of contracts q as...
The company is composed of many offices: Each office has:o A name, a city and a telephone number.o Each office has a Manager, several taxi owners, drivers and one administrative staff. The Manager is responsible for the day-to-day running of the office:1. Check the number of Jobs2. Check the number of complete jobs3. Check the number of failed jobs and the reason.Each manager has a name, ID, Office number, address, age(Less than 64) and telephone number (can have more than...
bluebird design,inc. is a website design and consulting firm. the firm ues a job order costing system in which each client is a different job. blueboard designassigns direct labor, licensing costs,and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate. computed as a percentage of direct labor costs. at the beginning of 2018, managing partner sally simone prepared the following budget estimates:direct labor hours(professionals) 7500. direct labor costs(professionals) 1,500,000. support...
1 (10 points). John Milton and two of his colleagues are considering opening a law office in New York City that would make inexpensive legal services available to those who could not otherwise afford these services. The intent is to provide easy access for their clients by having the office open 360 days per year, 16 hours each day from 7:00 a.m. to 11:00 p.m. The office would be staffed by a lawyer, paralegal, legal secretary, and clerk-receptionist for each...
please include some explanation, thank you. thumbs up on my
behalf !
Semester Case - My Assistant, Inc. Aller a successful first semester of operations. W.T. has been presented with two new opportunities. Two of his clients were so happy with the services he's provided them that they'd like to contract with the company by scheduling standing appointments. One client, a local business, would like him to stop by daily to mail packages and take care of other errands. Another...