Thomas and James, a law firm, has support staff for its attorneys. The two attorneys work a
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Question:
Thomas and James, a law firm, has support staff for its attorneys. The two attorneys work a total of 2,000 hours each and make $80,000 each per year. The total support budget is $200,000, of which $160,000 is professional support, and $40,000 is general office overhead. A job requiring 50 professional hours should be billed how much for overhead if a simplified costing approach is used and labor cost is the cost driver?
a. $625
b. $2,000
c. $2,500
d. $1,000
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