3) A local attorney employs ten full-time professionals. The budgeted compensation per employee is $80,000. The maximum billable hours for each client are 400. Clients always receive their full amount of time. All professional labour costs are included in a single direct cost category and are traced to jobs on a per-hour basis. Any other costs are included in a single indirect cost pool, allocated according to professional labour-hours. Budgeted indirect costs for the year are $400,000 and the firm had 20 clients. (10 Marks)

Required:

1. What is the direct labour budgeted cost rate per hour?
2. What is the indirect cost pool budgeted cost rate per hour?

please answer it using word or excel thank you