× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
New Topic  
Bilal Kumu Bilal Kumu
wrote...
Posts: 5
Rep: 0 0
3 years ago
Mira Financial Advisors provides accounting and finance assistance to customers in the retail business. Mira has four professionals on staff, plus an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $753,000 per year, and it normally has about 8,300 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $575,000.
Mira allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Mira's professionals spent 38 hours on their client, Riley Sales. Mira adds a 25% markup on its costs to calculate the amount billed to the customer.
How much should the company charge Riley Sales for the month of July? (Round your intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
Read 89 times
2 Replies

Related Topics

Replies
wrote...
3 years ago
I found a similar question with its complete solution:

Mira Financial Advisors provides accounting and finance assistance to customers in the retail business. Mira has four professionals on staff, plus an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $756,000 per year, and it normally has about 8,300 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $574,000.
Mira allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Mira's professionals spent 36 hours on their client, Riley Sales. Mira adds a 25% markup on its costs to calculate the amount billed to the customer. How much should the company charge Riley Sales for the month of July? (Round your intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) $1,330,000
B) $182,000
C) $7,211
D) $5,769
 Attached file 
Thumbnail(s):
You must login or register to gain access to this attachment.
wrote...
2 years ago
thank
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1281 People Browsing
Related Images
  
 127
  
 84
  
 935
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 292