= Homework: Chapter 4 Homework Question list K Question 16, P4-37 (similar to) Part 2 of 5 HW Score: 65.89%, 19.77 of 30 points Points: 0.72 of 2 Save Lincoln & Associates is a law firm specializing in labor relations and employee-related work. It employs 25 professionals (5 partners and 20 associates) who work directly with its clients. The average budgeted total compensation per professional for 2020 is $104,000. Each professional is budgeted to have 1,600 billable hours to clients in 2020. All professionals work for clients to their maximum 1,600 billable hours available. All professional labor costs are included in a single direct-cost category and are traced to jobs on a per-hour basis. All costs of Lincoln & Associates other than professional labor costs are included in a single indirect-cost pool (legal support) and are allocated to jobs using professional labor-hours as the allocation base. The budgeted level of indirect costs in 2020 is $2,200,000. Read the requirements Question 12 * Question 13 G Direct Costs Question 14 } H Direct Costs | Professional Labor * Question 15 Requirement 2. Compute the 2020 budgeted direct-cost rate per hour of professional labor. Select the formula to compute the budgeted direct-cost rate, then enter the amounts and calculate the rate. * Question 16 Budgeted compensation per professional Budgeted direct labor-hours per professional Question 17 Budgeted direct- cost rate per hour per hour Help me solve this Etext pages Get more help - Clear all Check answer