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QUESTION65. The law firm of Smith & Jones has a staff of 30 lawyers and adminis...
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QUESTION65. The law firm of Smith & Jones has a staff of 30 lawyers and administrative staff. Budgeted total costs of the firm total $4,000,000 of which $2,500,000 is direct‐labor costs. Assuming that the remaining costs are indirect and direct‐labor cost is the allocation base, calculate the budgeted indirect cost rate.
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