Based on the data in Exercise and assuming that the average compensation per hour for staff is $ 45 and for partners is $ 140, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 2014. Use the following column headings:
Staff Partners
In Exercise Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31,2014:

Billable Hours Audit Department: 22,400 7,900 Tax Department: 13,200 5,500 Partners.... Small Business Accounting Department 3,000 600