Exercise 20-35 Activity-based budgeting LO A1 Render Co. CPA is preparing activity-based budgets for 2019. The partners expect the firm to generate billable hours for the year as follows: Data entry Auditing Tax Consulting 1,110 hours 2,350 hours 2,230 hours 405 hours The company pays $10 per hour to data-entry clerks, $37 per hour to audit personnel, $55 per hour to tax personnel, and $55 per hour to consulting personnel Prepare a schedule of budgeted labor costs for 2019 using activity-based budgeting. RENDER CO, CPA Activity-Based Budget For The Year Ending December 31, 2019 Budgeted Budgeted Budgeted Hours Rate/hour Cost Data-entry Auditing Tax Consulting Total