Question

Woznick offers clients a variety of legal services. Some clients pay Woznick a monthly retainer, while others are billed as services are rendered. Identify each of the revenues below as variable, fixed, or mixed. Use V for variable, F for fixed, and M for mixed. Activity is measured as the number of hours of legal service provided.
________ A. Nicky hires Woznick to handle her divorce. She is billed for the hours worked.
________ B. Paul hires Woznick for estate planning. He is billed a research fee plus time worked.
________ C. Michelle hires Woznick to handle her real estate transactions. This is an ongoing situa-tion for which Michelle pays a monthly fee.
________ D. David hires Woznick for legal advice as he incorporates his business. Woznick charges David a flat fee to prepare the documents plus a fee per hours worked.
________ E. Katie hires Woznick to write a partnership agreement. Woznick charges a flat fee for this service.
________ F. Jason hires Woznick to obtain local permits to operate his business. Woznick bills Jason for time worked.


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  • CreatedMarch 25, 2015
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