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What is the direct-labor cost rate per hour

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Problem - Please show work to solve the following problems.

A local CPA employs ten full-time professionals. The budgeted compensation per employee is $50,000. The maximum billable hours for each client are 400. Clients always receive their full amount of time. All professional labor costs are included in a single direct-cost category and are traced to jobs on a per-hour basis. Any other costs are included in a single indirect-cost pool, allocated according to professional labor-hours. Budgeted indirect costs for the year are $200,000 and the firm had 20 clients.

Required:

a. What is the direct-labor cost rate per hour?

b. What is the indirect-cost rate per hour?

Reference no: EM131827732

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