As a Service to the Public, the Accounting Department at a Major

Essay

As a service to the public, the accounting department at a major university provides speakers for budgeting seminars at functions such as club meetings, couples' retreats, and at several local half-way houses and women's shelters.Speakers, who hold doctorate degrees in accounting, are paid by the college of business an hourly rate of $75 plus fringe benefits estimated at 30% of their hourly rate.Since all speaking engagements are in the local area, speakers are paid 10% of their hourly rate for transportation costs.Speakers are paid for their speaking time plus their travel and preparation time.The standard time estimated for each speaking engagement is 1 hour and 30 minutes.
Required:
Calculate the standard cost for each engagement.