EXAMPLE 5 Kidman has just completed a review of its job-costing system. This review included a detailed analysis of how past jobs used the firm's resources and interviews with personnel about what factors drive the level of indirect costs. Management concluded that a system with two direct-cost categories (professional partner labor and professional associate labor) and two indirect-cost categories (general support and secretarial support) would yield more accurate job costs. Budgeted information for 2014 related to the two direct-cost categories is as follows: Budgeted information for 2014 relating to the two indirect-cost categories is as follows: requireu: 1. Compute the 2014 budgeted direct-cost rates for (a) professional partners and (b) professional associates, 2. Compute the 2014 budgeted indirect-cost rates for (a) general support and (b) secretarial support. 3. Compute the budgeted costs for the Richardson and Punch jobs, given the following information: 4. Comment on the results in requirement 3. Why are the job costs different from those computed in EXAMPLE 4? Would you recommend Kidman \& Associates use the job-costing system in EXAMPLE 4 or the job-costing system in this problem (EXAMPLE 5)? Explain