The formula to calculate Billable Value is:
\[ \text{Billable Value} = \text{Billable Rate} \times \text{Billable Time} \]
The billable rate is the hourly rate agreed upon for the service provided. The billable time is the total hours worked. The billable value is the product of the billable rate and billable time.
Let's assume the following:
Step 1: Calculate Billable Value:
\[ \text{Billable Value} = \$20 \times 120 = \$2,400 \]
Therefore, the Billable Value is $2,400.