Dale,Smith,and Associates,a CPA Firm,is Trying to Determine the Hourly Cost

question 20

Essay

Dale,Smith,and Associates,a CPA firm,is trying to determine the hourly cost of its junior accountants in the auditing department.The following data have been gathered.
$\begin{array}{lc}\text { Monthly salaries for } 4 \text { juniors @ } @ 3,000 \text { each } & \$ 12,000 \\\text { Monthly auditing department overhead costs } & \$ 83,160 \\\text { Average number of hours worked each month } & 800 \mathrm{hr}\end{array}$
Assuming 40 percent of the monthly overhead costs for the auditing department are attributable to the junior accountants,compute the hourly cost of their services.

Appreciate the role of statistics in research, assessment, and decision-making processes.

Understand the concept and calculation of intelligence quotient.

Recognize the purposes and ethical considerations of counseling assessments.

Identify historical developments and key figures in the field of psychological testing.

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Definitions:

Thirst

A basic physical sensation of needing to drink liquids.

Internal Morality

The set of moral principles that guide an individual's actions, developed independently of external rules or laws.

Conscience

A component of the superego that contains behaviors for which the child has been punished.

Primary-process Thought

A Freudian concept involving primitive, instinctual thought patterns that are illogical and driven by the unconscious mind.