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Question - Marjak legal services is a medium-sized family law firm established by Marissa in 2010.
Marissa Jakes is the most senior member of the family and estimates that she will bill clients for 40 hours per week and have 2 weeks annual leave in March. Bose Jakes is Marissa's daughter and intends to take 4 weeks leave in June and to bill clients for 38 hours per week. Marissa's granddaughter, Lola, is new to the firm and enjoys hanging out with friends on Friday and so usually bills clients for only 36 hours per week. Lola intends to take 2 weeks leave beginning in July.
The charge-out rates per hour for each of the Jakes' are as follows.
Marissa $375 per hour
Bose $285 per hour
Lola $185 per hour
Required - What is the total service revenue budget for Lola for the year ending 30 June 2021?
a. $333,000
b. $733,260
c. $519,840
d. $533,580
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