Compute the predicted cost of the Drayne Manufacturing Job

If Simms wants to earn a profit that equals 28% of the job cost, how much should he bid for the Drayne Manufacturing job?

Requirements 1. Compute Simms Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. 2. Compute the predicted cost of the Drayne Manufacturing job. 3. If Simms wants to earn a profit that equals 28% of the job's cost, how much should he bid for the Drayne Manufacturing job? Data table More info Drayne Manufacturing, Inc. is inviting several consultants to bid for work. Kenneth Simms wants to submit a bid. He estimates that this job will require about 190 direct labor hours. Simms Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, managing partner Kenneth Simms prepared the following budget for the year: (Click the icon to view the prepared budget.) (Click the icon to view additional information.) Read the requirements