Jazmyn Grandstone is a new staff accountant at James & Associates. She is paid a salary of

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Jazmyn Grandstone is a new staff accountant at James & Associates. She is paid a salary of $67,600 per year and is expected to work 2,600 hours per year on client jobs. The firm’s indirect cost allocation rate is $25 per hour. The firm would like to achieve a profit equal to 20% of cost.
1. Convert Jazmyn’s salary to an hourly wage rate for billing purposes.
2. Calculate the professional billing rate James & Associates would use for billing out Jazmyn’s services.

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Managerial Accounting

ISBN: 9780137858514

7th Edition

Authors: Karen W. Braun, Wendy M. Tietz

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