Question

Barker and Associates specialize in corporate law. They charge $125 an hour for researching a case, $80 an hour for consultations, and $250 an hour for writing a brief. Last week one of the attorneys spent 8 hours consulting with her client, 12 hours researching the case, and 15 hours writing the brief. What was the weighted mean hourly charge for her legal services

Answer 1

Weighted mean hourly charge = $168.28 (Approx)

Given:

Charge for research = $125 per hour

Charge for consultations = $80 per hour

Charge for writing a brief = $250 per hour

Research work = 12 hour

Consultations = 8 hour

Writing = 15 hour

Computation:

Total hours = 12 + 8 + 15 = 35 hours

Total charge for researching = $125 × 12 = $1,500

Total charge for consulting = $80 × 8 = $640

Total charge for writing = $250 × 15 = $3,750

Total charge = $5,890

Weighted mean hourly charge = 5890 / 35

Weighted mean hourly charge = $168.28 (Approx)