The following information has been gathered for Catalyst Legal Services for its fiscal year ending December...
The following information has been gathered for Catalyst Legal Services for its fiscal year ending December 31:
| Actual office overhead costs | $ | 1,275,500 | |
| Actual billable labor hours | 44,600 | ||
| Actual billable labor costs | $ | 3,960,000 | |
| Estimated office overhead costs | $ | 1,080,000 | |
| Estimated billable labor hours | 48,000 | ||
| Estimated billable labor costs | $ | 4,320,000 | |
What is the predetermined office overhead rate per billable labor hour?
Multiple Choice
-
$28.60.
-
$26.57.
-
$22.50.
-
$24.22.
Homework Answers
Answer
- Estimated Office Overhead cost = $ 1080000
- Estimated billable labor hours = 48000
- Predetermined Office overhead rate = $ 1080000 / 48000
= $ 22.50 per billable labor hour - Correct Answer = Option #3: $ 22.50
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