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cc84sc cc84sc
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2 months ago
As a service to the public, the accounting department at a major university provides speakers for budgeting seminars at functions such as club meetings, couples' retreats, and at several local half-way houses and women's shelters. Speakers, who hold doctorate degrees in accounting, are paid by the college of business an hourly rate of $75 plus fringe benefits estimated at 30% of their hourly rate. Since all speaking engagements are in the local area, speakers are paid 10% of their hourly rate for transportation costs. Speakers are paid for their speaking time plus their travel and preparation time. The standard time estimated for each speaking engagement is 1 hour and 30 minutes.

Required:

Calculate the standard cost for each engagement.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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LoveameriahLoveameriah
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More solutions for this book are available here
Speaking rate per engagement ($75 × 1.5)$112.50
Fringe benefits ($112.50 × .30) 33.75
Transportation ($112.50 × .10)     11.25
Standard rate for engagement$157.50
Or
Speaking rate$75.00
Fringe benefits  22.50
Transportation    7.50
Standard rate for engagement$105.00× 1.5 hours = $157.50
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