Question: Kirk Co. CPA is preparing activity-based budgets for 2011. The partners expect the firm to generate billable hours for the year as follows: Data entry

Kirk Co. CPA is preparing activity-based budgets for 2011. The partners expect the firm to generate billable hours for the year as follows:
Data entry . . . . . . . . . 1,100 hours
Auditing . . . . . . . . . . . 2,400 hours
Tax . . . . . . . . . . . . . . . 2,150 hours
Consulting . . . . . . . . . . . 375 hours

The company pays $8 per hour to data-entry clerks, $40 per hour to audit personnel, $50 per hour to tax personnel, and $50 per hour to consulting personnel. Prepare a schedule of budgeted labor costs for 2011 using activity-based budgeting.

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