Deloitte provides auditing services using job costing. In July 2040, the company incurs the following costs for a project:

• Direct Labor: $3,000,000 (30,000 hours)
• Materials: $1,200,000
• Overhead: $1,800,000

Requirements:

• Allocate overhead based on direct labor hours.
• Calculate the total project cost.
• Prepare an invoice for the client using time and material billing.
• Perform a profitability analysis for the project.
• Recommend strategies to enhance project profitability.