An accounting firm uses billable hours as the cost driver for their office-wide overhead rate...
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Accounting
An accounting firm uses billable hours as the cost driver for their office-wide overhead rate and expect to incur the following costs for the upcoming year: Direct labour $558,000 Office Overhead Expenses $159,000 Admin. Staff Overhead $427,000 Other budgeted data for the accounting firm for the coming year includes: Budgeted Billable hours 2700 Number of Clients Billed 42 At the end of the year the firm has actually billed 2767 hours to clients and actual overhead was as budgeted. Using the office-wide overhead application rate, during the year how much Overhead was billed to a client for each billable hour recorded on their account? (round to nearest dollar)
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