Annual salary Billing hours Direct labour Hourly rate Hours per year Indirect labour Indirect materials Total expected hoursAshton & Associates, a law firm, hires lawyer Sophia Remillard at an annual salary of $120,000. The law firm expects her to spend 2,000 hours a year performing legal work for clients. Indirect costs are assigned to clients based on attorney billing hours. Ashton attorneys are expected to work a total of 18,000 direct labour hours this year. Before the fiscal year begins, Ashton estimates that the total indirect costs that will be incurred for the following year. (Click the icon to view the financial data.) Remillard spent 14 hours working for Client 367. 1. What would be the hourly (cost) rate to Ashton & Associates of employing Remillard? 2. What direct labour cost would be traced to Client 367? 3. What is the indirect cost allocation rate? 4. What indirect costs will be allocated to Client 367? 5. What is the total job cost for Client 367?1. What would be the hourly (cost) rate to Ashton & Associates of employing Remillard? Identify the correct formula and compute the hourly rate. (Round your answer to the nearest whole dollar.) Annual salary Direct labour Hourly rate 120,000 2000 60 2. What direct labour cost would be traced to Client 367? (Round interim and final answers to the nearest whole dollar.) Identify the correct formula and compute the direct labour cost. Total expected hours Hourly rate Direct labour cost 14 X 60 840 3. What is the indirect cost allocation rate? Identify the correct formula and compute the total indirect cost allocation rate. (Round your answer to the nearest whole dollar.) Total estimated indirect costs Hourly rate 377,000 18,000 4. What indirect costs will be allocated to Client 367? (Round interim and final answers to the nearest whole dollar.) Identify the correct formula and compute the total indirect costs traced to Client 367. Hours per year X Hourly rate Indirect costs billed 5. What is the total job cost for Client 367? Select the cost labels and compute the total job cost for Client 367. Total job costs for Client 367