Summit Financial Advisors provides accounting and finance assistance to customers in the retail business
Summit has four professionals on staff and an office with six clerical staff. Total compensation, including benefits, for the professional staff run about $731,000 per year, and it normally has about 8,500 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $561,000.
Summit allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Summit's professionals spent 41 hours on their client. What is the total amount of cost that Summit will record for the client for the month? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) $3,526
B) $2,706
C) $1,292,000
D) $6,232
D .
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Identify a criticism against electronic monitoring systems.
A. They can store records of employee performance, work-rule violations, and disciplinary actions. B. The systems prevent employees from exaggerating the number of hours they worked. C. They cannot monitor performance measures electronically. D. They threaten to make the workplace an electronic sweatshop, robbing employees of their dignity. E. They do not increase productivity.