K&B is a small management consulting firm. Last month, the firm billed fewer hours than expected, and,

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K&B is a small management consulting firm. Last month, the firm billed fewer hours than expected, and, as expected, profits were lower than anticipated.
K&B is a small management consulting firm. Last month, the

a These are hours billed to clients. They are fewer than the number of hours worked because there is non billable time (e.g., slack periods, time in training sessions) and because some time worked for clients is not charged to them.
Required
Prepare a flexible budget for K&B. Use billable hours as the measure of output (that is, units produced).

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Fundamentals of Cost Accounting

ISBN: 978-1259565403

5th edition

Authors: William Lanen, Shannon Anderson, Michael Maher

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