4 of 4 (3 complete) V p O Simms Realtors, a real estate consulting rm, specializes in advising oompanies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, managing partner Matthew Simms prepared the following budget for the year: E (Click the icon to view the prepared budget.) 0 (Click the icon to view additional information.) Read the muirements. o More Info Requlrement 1. Compute Simms Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. Root Manufacturing, Inc. is inviting several consultants to bid for work. Matthew _ Simms wants to submit a bid. He estimates that this job will require about 220 DIN\" labor direct labor hours. Estimated direct labor costs 4- Estimated direct labor hours = cost rate 2550000 + 12750 = 200 per hour Now compute Simms Realtors' (b) predetermined overhead allocation rate. Predetermined overhead + = % Requirement 2. Compute the predicted cost of the Root Manufacturing job. Simms Realtors Direct labor hours (professlonals) 12,750 hours Estimated Cost of the Root Manufacturing Job Direct labor costs (professionals) 2,550,000 Ofce rent 400,000 hrs. x = Support staff salaries 1,337,500 + Utllltles 430,000 % x = Choose from any list or enter any number in the input fields and then continue to the next question. V Simms Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, managing partner Matthew Simms prepared the following budget for the year: (Click the icon to view the prepared budget.) i (Click the icon to view additional information.) Read the requirements. i More Info X Now compute Simms Realtors' (b) predetermined overhead allocation rate. Root Manufacturing, Inc. is inviting several consultants to bid for work. Matthew Predetermined overhead Simms wants to submit a bid. He estimates that this job will require about 220 allocation rate direct labor hours. % Print Done Requirement 2. Compute the predicted cost of the Root Manufacturing job. Simms Realtors Estimated Cost of the Root Manufacturing Job i Data Table - X hrs . x % X Direct labor hours (professionals) 12,750 hours Total predicted cost Direct labor costs (professionals) $ 2,550,000 Office rent 400,000 Requirement 3. If Simms wants to earn a profit that equals 45% of the job's cost, how much should he bid for the Root Manufacturing job? Support staff salaries 1,337,500 Utilities 430,000 Add: Required service revenue Print Done Choose from any list or enter any number in the input fields and then continue to the next
