CHAPTER M-2 Question 4, PM2-42B (book/st Part 2 of 6 Data table At the b (C In Nove (Cli Tasty Co-op Maynard Chocolates Direct labor hours Software licensing costs Travel costs 800 hours 300 hours $ 1,500 $ 500 11,000 0 Skylark Design, Inc. is a Web site design and consulting firm. The firm uses a job order costing system in which each client is a different job. Skylark Design assigns direct labor, licensing costs, and travel costs directly to each job. It allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. Read the requirements. Requirement 1. Compute Skylark Design's direct labor rate and its predetermined overhead allocation rate for 2024. (Abbreviation used: Begin with the direct labor rate. Estimated direct labor costs $ 2,000,000 Estimated direct labor hours 8,000 Direct labor rate $ 250 per hour Compute Skylark Design's predetermined overhead cost allocation rate for 2024. Data table Predetermined OH cost allocation rate % Print Done Direct labor hours (professionals) Direct labor costs (professionals) 8,000 hours $ 2,000,000 Support staff salaries Computer leases Office supplies Office rent 866,000 49,000 24,000 61,000 Print Done - e