Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below:
Activity Cost Pools Total Cost Total Activity
Researching legal issues....... $20,480 640 research hours
Meeting with clients............. $1,182,239 7,253 meeting hours
Preparing documents........... $91,840 5,740 documents
The activity rate for the "meeting with clients" activity cost pool is closest to:
a) $95 per meeting hour
b) $61 per meeting hour
c) $163 per meeting hour
d) $1,182,239 per meeting hour