Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need help! ace architects employs two architect

Need help! Ace Architects employs two architects, each having a different area...

80.2K

Verified Solution

Question

Accounting

Need help! image
Ace Architects employs two architects, each having a different area of specialization. Caitlin specializes in industrial commercial construction and Zachary specializes in residential construction. Ace expects to incur total overhead costs of $737,100 during the year and applies overhead based on annual salary costs. Caitlin is a senior partner, her annual salary is $168,750, and she is expected to bill 3,000 hours during the year. Zachary is a senior associate, his annual salary is $94,500, and he is expected to bill 2,800 hours during the year. a. Calculate the predetermined overhead rate. b. Assuming that the hourly billing rate should be set to cover the total cost of services plus a 20% markup, compute the hourly billing rates for Caitin and Zachary. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Why is the Leibovitvz’s L-15 medium is important for adherent cell culture? Identify five key components...

Biology
Q

explain how to prepare sample solutions and capillary applicators

Physics
Q

In year 0, Javens Inc. sold machinery with a fair market value of $630,000 to Chris....

Accounting
Q

11 Explain why labor force participation rate declines during a recession 12 What are the...

Biology
Q

Which is not involved in adaptive immunity Tear flow Antibody production T cells B cells...

Biology
Q

A soap bubble in vacuum has a radius of 3 cm and another soap bubble...

Physics
Q

Decide whether the following statement is compound If it is a compound statement indicate whether...

Basic Math
Q

When completing the square to find the standard form of the equation of the following...

Basic Math
Q

Question 1 liabilities of $2,622,000, and...

Accounting
Q

On January 1,2022 KPG Corporation issued $3,000,000,12 year, 10% bonds. The...

Accounting
Q

Which of Adam Smith's four canons of a good tax system refers to stability" of...

Accounting
Q

undefined Financial institutions hold a portfolio comprising the following securities: 100 million bonds with...

Finance