Below is the labor budget data for Roy & Miller Accounting, LLP.

Partner Salaries	$ 700,000
Partner Benefits (30%)	210,000
Total Partner Compensation	$ 910,000
Staff Accountant Salaries	$ 800,000
Staff Benefits (30%)	240,000
Total Staff Compensation	$ 1,040,000

The budgeted overhead cost for the year is $1,638,000. 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 $23,000 in direct partner professional labor, $34,000 in direct staff accountant professional labor, $6,000 in direct material.

What is the overhead rate for staff accountants, if separate rates are used for partners and staff accountants?

Multiple Choice

52%

60%

48.2%

105.0%

120%