Nicole is a new accountant at James and Associates. She is paid a salary of 67,600 per year and is expected to work 2,600 hours per year on client jobs. The firm's indirect cost allocation rate is 25 per hour. The firm would like to achieve profits equal to 20% of costs.
1) Convert Nicole's salary to an hourly wage rate for billing purposes.
2) Calculate the professional billing rate James and Associates would use for billing out Nicole's services.
Select the formula and enter the amounts to compute Nicole's direct labor rate per hour:
? /. ? =. Direct Labor Rate