Purchase Solution

Relationship Between Billable Hours and Total Cost

Not what you're looking for?

Ask Custom Question

A manager would like to know the relationship between the billable hours spent on a job and the total cost of the job including materials. The file attached contains the data. Summarize the relationship.

Attachments
Purchase this Solution
Solution Summary

This solution is comprised of detailed explanation and analysis of the given problem. Analysis have been shown both in text and EXCEL for better understanding. The solution provides students with a clear perspective of the underlying concepts.

Solution Preview

Dear student, please refer to the attachment for the solution. Thank you.

The scatter-plot shows a direct positive relationship between 'billable hours' ...

Solution provided by:
Anwesha Ghosh, MSc
Education
  • MSc, Osmania University
  • MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
  • BSc, Banaras Hindu University
Recent Feedback
  • "Very fast turnaround. Excellent communication! Much appreciated!"
  • "excellent"
  • "excellent"
  • "excellent work"
  • "Fantastic..great solution and very well explained!!!!"
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

View More Free Quizzes
Related BrainMass Solutions

  • Statistics - Regression

    255528 Regression A manager would like to know the relationship between the billable hours spent on a job and the total cost of the job including materials. The file jobs.xls contains the data and is attached below. Summarize the relationship.

  • Job Costing System with Direct and Indirect Cost Pools

    =45*120 5400 Total cost allocated to audit =12600 Next: using three direct cost pools - Professional labor, Technician, and travel.

  • Data analysis in SPSS

    H0: There is not a relationship between increased billable hour requirements and decreased bonuses H1: There is a relationship between increased billable hour requirements and decreased bonuses Data at old bonus requirements of 36 billable hours

  • Service Industry: Job Costing

    The average budgeted total compensation per professional for 2008 is $104,000. Each professional is budgeted to have 1,600 billable hours to clients in 2008. All professionals work for clients to their maximum 1,600 billable hours available.

  • ABC versus Traditional Costing

    Assume that the firm uses traditional costing procedures, allocating total costs on the basis of billable hours.

  • Accounting:Activity based costing and Traditional costing.

    Billable hours to clients for the year totaled $5,000. Information systems was $3,100 and e-commerce consulting was $1,900. Administrative cost of $342,000 was (and continues to be) allocated to both services based on billable hours.

  • Manhattan Consultants and Centennial Shipping (CS)

    A total of 2,000 hours were worked in January with 200 hours not billable to clients. Overhead costs of $30,000 were incurred and assigned to clients on the basis of direct-labor hours.

  • Process and Job Costing

    Determine Hill Co's service dept's cost driver rate to be used to assign conversion costs on the basis of billable direct labor hours. B. Job 254 required $47.40 of materials and 0.7 direct labor hours. Determine the price charged for job 254.

  • CPA firm cost rates

    The problem outlines how to determine a CPA firm's budgeted hours and billable hours.

View More Related Solutions