bidding on the job. Frey estimates that the job will require the following direct labor. Frey applles overhead to jobs at 175% of direct labor cost. Frey wants to eam at least $40,000 profit on the architectural job. Based on past experience and market research, it estimates that the competition will bid between $298,000 and $376,000 ior the jot 1. What is Frey's estimated cost of the archilectural job? 2. If Frey bids a price of $298,000, what is its expected protit? Wil it earn its target profit of $40,000 ? 3. What bid pitce woufd earn the destred $40,000 target profit? What is Frey's estimated cost of the architectural job? If Frey bids a price of $298,000, what is its expected profit? Will it earn its target profit of $40,000 ? What bid price would earn the desired $40,000 target profit