Problem:
CPAs, employs two full-time professional CPAs and five other accountants. Budgeted direct salary costs include $150,000 for each CPA and $40,000 per other accountant. For the 2007 year, indirect costs were budgeted at $200,000, but actually amounted to $225,000. Actual salaries were $155,000 for each CPA and $45,000 for each accountant. Direct and indirect costs are applied on a labor-hour basis. Total budgeted labor-hours were 5,000.
If a client used 500 labor-hours, what are the budgeted direct-cost rate and the budgeted indirect cost rate, respectively?