Sign In Sign Up Ask an AI advisor
ecletcicbeauty5793
ecletcicbeauty5793
20.09.2020 • 
Mathematics

Summit Financial Advisors provides accounting and finance assistance to customers in the retail business. Summit has four professionals on staff and an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $760,000 per year, and it normally has about 8,000 billable hours per year. The professional staff keep detailed sheets organized by client number. The total office and administrative costs for the year are $584,000. Summit allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Summit’s professionals spent 41 hours on their client. What is the total amount of cost that Summit will record for the client for the month? ( Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

Solved
Show answers

Ask an AI advisor a question

I want advice