At the beginning of the current year, managing partner Brenna Gladstone prepared the following budget Hummingbird Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Hummingbird Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. (Click the icon to view the prepared budget.) Later that same year in November, Hummingbird Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Requirement 1. Compute Hummingbird Design's predetermined indirect cost allocation rate for the current year. Identify the formula, then compute the rate. (Enter the result as a whole number.) Predetermined indirect cost allocation rate % Requirement 2. Compute the total cost of each of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter "0" in the appropriate cell. Enter percentage amounts as a whole number, Round your answers to the nearest whole dollar) X Hummingbird Design Data table Estimated Cost of Delicious Treats and TopStar.com Jobs Delicious Treats TopStar.com 7,500 hours $ 1,500,000 Direct Costs: $ 180,000 Direct labor hours (professional)....... Direct labor costs (professional). Support staff salaries..... Computer lease payments Office supplies..... Office rent $ hours x $ 46,000 24,000 65,000 hours x $ Total Direct Costs Indirect Costs: Delicious Treats TopStar.com 700 hours Total Cost % x AAA Data table Direct labor hours...... Licensing costs $ Travel costs. $ 2,200 $ 5,000 $ 55 hours 500 0 - X Requirement 3. If Hummingbird Design wants to earn profits equal to 20% of sales revenue, how much (what total fee) should the company charge each of these two clients? Identify the formula then determine the amount Hummingbird Design should charge these clients. (Round your answers to the nearest whole dollar.) Fee charged Delicious Treats % TopStar.com % Requirement 4. Why does Hummingbird Design assign costs to jobs? that cover all costs and contribute to profit. Assigning costs to Hummingbird Design assigns costs to jobs to help the company control costs. also can help Hummingbird Design