Render Co. CPA is preparing activity-based budgets for 2017. The partners expect the firm to generate billable hours for the year as follows: Data entry Auditing Tax 2,200 hours 4,800 hours 4,300 hours Consulting 750 hours The company pays $10 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 2017 using activity- based budgeting. > Answer is complete but not entirely correct. RENDER CO. CPA Activity-Based Budget For The Year Ending December 31, 2017 Budgeted Hours Budgeted Rate/hour Budgeted Cost Data-entry 2,200 $ 10.00 $ 24,100 Auditing 4,800 40.00 192,000 Tax 4,300 50.00 215,000 Consulting 750 50.00 37,500 Total 12,050 $ 468,600