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Cradin Solutions designs Web pages for clients in the education sector. The company's job costing system has a single direct cost category (Web designing labor and a single indirect cont pool composed of all overhead costs. Overhead costs are allocated to individual jobs based on direct labor hours. The company employs six Web designers Budgeted and actual information regarding Cradin Solutions follows: Click the icon to view the data.) Read the requirements Requirement 1. Compute the direct cost rate and the indirect cost rate per Web-designing labor hour for 2020 under (a) actual costing, (b) normal costing, and (c) the variation from normal costing that uses budgeted rates for direct costs Begin by identifying the formula to calculate the actual indirect-contrate. Actual indirect cost rate Identify the formule to calculate the budgeted indirect-cost rate. Budgeted indirect cost rate Identify the formula to calculate the budgeted direct cost rate Budgeted direct cost rate (a) (b) (c) Actual Normal Variation of costing costing normal costing Direct-cost rate Indirect contrata Requirement 2. Which method would you suggest Cradin Solutions use? Explain Cradin Solutions should choose a job-couting system based on the information available to them. If Credin Sortione knows as the jobs are being done, would recommend Cradin Solutions use by calculating to costjobs Venables Crado Salutions to use the to estimate the cost of algab as soon as the job in completed, Cradin Solutions does not know as the jobs are being completed, I would recommend that Cradin Solutions use the This would allow Cradin Solutions to estimate costs on a more-timely basis. Requirement 3. Cradin Solutions Web design for Greenville Day School was budgeted to take 85 direct labor-hours. The actualme spent on the project was 70 hours Compute the cost of the Greenville Day School job using (a) actual costing. (b) normal costing, and (c) the variation from normal costing that uses budgeted rates for direct costs. Begin by identifying the formulas to calculate the direct and indirect-costs under actual costing (a) Actual casting: Direct-costs Indirect costs Identity the formulas to calculate the direct and indirect costs under normal costing (b) Normal costing Direct-costs Indirect costs Identify the formulas to calculate the direct and indirect costs under the variation of normal casting Identify the formulas to calculate the direct and indirect-costs under the variation of normal costing. (c) Variation of normal costing: Direct-costs Indirect costs What would the cost of this job be under each of the costing methods in requirement 1? (a) (b) (c) Actual Normal Variation of Cost of Cradin Solutions: costing costing normal costing Direct-costs Indirect costs Total job costs Data Table Budget for 2020: Direct labor costs $ 260,000 Direct labor- hours 10,000 Overhead costs $ 160,000 Actual results for 2020: Direct labor costs $ 240,000 Direct labor-hours 10,000 Overhead costs $ 180,000 Print Done