Y LU L 1 I Current Attempt in Progress Mr. Davis's small consulting firm specializes in providing internal control advice to his clients. All of his staff are certified internal auditors {ClAs) and want to gain expertise in a variety of industries. Jonas, his most senior consultant. always brings a less-seasoned associate with him for effciency, training, and general camaraderie. Jonas first assesses a situation in about 8 hours and then will brainstorm ideas the client could use to address its internal control risks. The less-seasoned associate follows Jonas, listens to the half- day assessment ritual, and then helps to brainstorm improvements for the client. Jonas's labor rate is billed at $200/hour. while the associate's billing rate is half that amount. (a) v Your answer is correct. M. Davis believes Jonas operates on a 70% learning curve for the \"assessment\" portion of his work, while his associate operates on a 75% learning curve. Create a chart outlining the number of hours each of these individuals is likely tospend on the next assessment of a client's internal controls. How much time will Mr. Davis expect each of them to spend on their fourth such assessment of a client's internal controls? (Round answers to 2 decimal places, eg. 15.25.) Jonas Jonas' associate Time spent on the fourth assessment hours hours eTextbook and Media Attempts: 2 of 3used (b) Your answer is partially correct. Calculate the total billing amount for Jonas and his associate for their (1) first client assessment session and (2) second client assessment session. State whether they are the same or different. Total billing amount for the first assessment Total billing amount for the second assessment The billing amount for the second assessment would be lower than v the billing amount was for the first assessment. eTextbook and Media Save for Later Attempts: 1 of 3 used Submit AnswerQuestion 3 of 4 05/1 = View Policies Show Attempt History Current Attempt in Progress Lindawas attempting to estimate a model for her small business's overhead costs. She is 99.9% sure that overhead costs are driven pritnarily by production, but she also knows that this cost isn't entirely variable. 5o she grabbed the last 8 months of production and overhead cost data, listed it out, and plotted it as follows. Month # of Units Produced Overhead Cost 1 280 $3.460 2 240 2,600 3 310 31590 4 370 3.740 5 370 3.650 3 350 3.820 7 300 3,180 8 320 3,780 e (b) Help Linda estimate her company's overhead costs using the high-low method. Write your final model in Y = m(X) + b format. Y =$ X+$ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerQuestion4of4