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.
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.(Round your answer to two decimal places. )
Definitions:
Journal Entry
A record of a transaction in a business's accounts, noting the accounts affected and the amounts.
Depreciation
The process of methodically allocating the expense of a physical asset over its functional life.
Sales Price
The amount at which goods or services are sold to customers, sometimes before discounts, taxes, or additional charges.
Equipment Cost
The total expense incurred in purchasing and preparing equipment for its intended use, including acquisition, delivery, and setup costs.
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