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Asslgnment Matorial 4-31)ob costing with two direct cost and two indirect cost categories, law...

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Accounting

Asslgnment Matorial
4-31)ob costing with two direct cost and two indirect cost categories, law firm (continuation of 4-30).(LO 2,4) Keating has just completed a review of its job-costing system. This review included a detailed analysis of how past jobs used the firm's resounces and interviews with persornel about what factors drive the level of indirect costs. Management concluded that a system with two dinect cost categories (professional partner labour and professional manager labour) and two indirect cost categories (general support and administration support) would yield more accurate job costs. Budgeted information for 2022** related to the two direct cost categories is as follows:
\table[[,\table[[Professional],[Partner Labour]],\table[[Professional],[Manager Labour]]],[Number of professionals,5,20],[Hours of billable time per professional,1,600 per year,1,600 per year],[Total compensation (average per professional),$200,000,$80,000
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