Use the Following Information to Answer the Following Questions

question 60

Multiple Choice

Use the following information to answer the following Questions
Bridges and Lloyd, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $250,000) has been allocated to services on the basis of billable hours to clients. A recent analysis found that 65% of the firm's billable hours to clients resulted from tax planning services, while 35% resulted from consulting services.
The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows:

A recent analysis of staff support found a strong correlation between the number of staff personnel and the number of clients served (consulting, 20; tax planning, 60) . In contrast, in-house computing and miscellaneous office cost varied directly with the number of computer hours logged and number of client transactions, respectively. Consulting consumed 30% of the firm's computer hours and had 20% of the total client transactions.
-Assuming the use of activity-based costing, the proper percentage to use in allocating staff support costs to tax planning services is:

• A) 20%.
• B) 60%.
• C) 65%.
• D) 75%.
• E) 80%.

Understand the historical context and challenges faced by historically black colleges and universities (HBCUs) during the late 19th and early 20th centuries.

Recognize the role of political and social movements in advancing African-American rights and education.

Distinguish different perspectives and strategies within the African-American community regarding racial uplift and civil rights activism.

Understand the impact of philanthropy on African-American education and the complexities of funding black schools in the South.

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Definitions:

Cover

A buyer’s right to substitute goods for those due under a sales or lease agreement when the seller provides nonconforming goods.

Substitute Goods

Products that can be used in place of each other, satisfying the same needs or wants.

Lease Agreement

A contract between a lessor and a lessee for the rental of property, usually real estate, for a specified period of time.

Insolvent

The state of being unable to pay debts owed, often leading to bankruptcy proceedings.