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. Dermott Accounting supplies the following direct costs and has asked you to develop a...

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Accounting

. Dermott Accounting supplies the following direct costs and has asked you to develop a recovery rate for indirect costs based on professional services costs.

$ $ Direct costs Professional services 800,000 800,000 Indirect costs Computers 92,000 Insurance 105,000 Lighting 60,000 Maintenance 40,000 Payroll tax 67,000 Photocopier 48,000 Rates 41,000 Stationary 20,000 Superannuation 30,000 Telephone 61,000 Travel 36,000 600,000 Total cost 1,400,000

Answer: 600,000 / 1,400,000 = .43

I would like to check if I did it right

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