12-17 Software Associates Software Associate (SA) is a computer software consulting firm that specializes in designing and implementing integrated marketing database warehousing programs. Humphrey Catalog is a client. In preparing its bid, SA is total labor for this project to be $222,500 broken down as follows: Budgeted hours Budgeted Wages Budgeted Wages Partner 100 $175 $17,500 Associate 300 120 36,000 Sr. Analyst 600 90 54,000 Analyst 1,000 40 40,000 Programmer 3,000 25 75,000 Total $222,500 After computing the Humph contract, SA reports the following: Actual hours Actual Cost Partner 90 $15,750 Associate 280 35,000 Sr. Analyst 750 63,750 Analyst 1,400 49,000 Programmer 3,600 82,800 Total $246,300 a.Prepare a project report for Humphrey