Seal Financial Advisors provides accounting and finance assistance to customers in the retail business
Seal has four professionals on staff and an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $571,000 per year, and normal billable hours are 8,100 hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $754,000. Seal allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. What is the predetermined overhead allocation rate that Seal will use for office and administrative costs? (Round your answer to the nearest cent.)
A) $93.09 per hour
B) $22.59 per hour
C) $70.49 per hour
D) $163.58 per hour
A .
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"For deposit only, Robert Marin" is a
a. qualified indorsement. b. restrictive indorsement. c. blank indorsement. d. special indorsement.
Scott buys a television from Kacey's Electronics, giving Kacey a check for $550. Kacey uses a special indorsement and negotiates the check to Rory. Rory carefully changes the amount to read $1550 and loses the check on the way to the bank. Harry picks it up and tries to cash it. What will he get?
A) Scott will have to pay him $550. B) Kacey will have to pay him $550. C) Rory will have to pay him $1550. D) No one will have to pay Harry.