Data table Martin 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 Matthew Martin prepared the following budget for the year: (Click the icon to view additional information.) (Click the icon to view the prepared budget.) Read the requirements. Requirement 1. Compute Martin Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. Direct labor hours (professionals) 22,000 hours Direct labor costs (professionals) Office rent Support staff salaries Utilities Print Done Requirements - X More info Direct labor cost rate per hour 2,750,000 400,000 1,645,000 430,000 Jones Manufacturing, Inc. is inviting several consultants to bid for work. Matthew Martin wants to submit a bid. He estimates that this job will require about 240 direct labor hours. 1. Compute Martin Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. 2. Compute the predicted cost of the Jones Manufacturing job. 3. If Martin wants to earn a profit that equals 55% of the job's cost, how much should he bid for the Jones Manufacturing job? Print Done - X Print Done - X