Question: Below is the labor budget data for Roy & Miller Accounting, LLP. Partner Salaries $ 400,000 Partner Benefits (45%) 180,000 Total Partner Compensation $ 580,000

Below is the labor budget data for Roy & Miller Accounting, LLP. Partner Salaries $ 400,000 Partner Benefits (45%) 180,000 Total Partner Compensation $ 580,000 Staff Accountant Salaries $ 600,000 Staff Benefits (45%) 270,000 Total Staff Compensation $ 870,000 The budgeted overhead cost for the year is $1,566,000. The company estimated that one-third of the budgeted overhead cost supports the firms two partners, and two-thirds supports staff accountants. The current audit bid for Monoco Industries requires $17,000 in direct partner professional labor, $29,000 in direct staff accountant professional labor, $4,400 in direct material. What is the total budgeted compensation for both partners and staff accountants? Multiple Choice $1,000,000 $600,000 $1

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