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A Firm of Accountant charges its client at an hourly rate. Senior staff is charged twice the ratio of junior staff. In a period the total amount to be charged to clients was $102,340 and the chargeable staff hours were
SENIOR STAFF: 440 HOURS
JUNIOR STAFF: 1260 HOURS
what is the hourly rate to be charged to clients for SENIOR staff time?1) $60
2) $48
3) $120
4) $96I had tried to solve the answer and found that the correct answer is $96, but I am not sure about it that I am right or wrong.
($48 x 1260) + ($96 x 440) = $102720 which is nearest to $102340.
Kindly let me know that I am correct or not ?One more thing is that I am not using any ACCA Approved book, this are just questions without having the answers. We have to solve it by our self.
Many thanksIf someone is asking you to solve questions by yourself, then presumably you have been given it as a test question. In which case you will presumably have been taught the topic and will be given an answer when you have attempted it yourself.
We do not provide a homework answering service!!
(It does seem that you are answer is correct.)
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