erse 9 Engineer Co. is submitting a bid for a major job and estimates the following direct labor costs: Engineers Drafters Staff Hours Hourly Rate 30 250.00 20 120.00 50 20.00 Engineer Co. has no direct material costs and applies overhead at a rate of 150% of direct labor cost. It estimates the competition will bid between $31882.5 and $38967.5. a) What is the estimated cost of direct labor for the job? b) What is the estimated cost of the job? c) what should it bid to earn a 30% profit