Exercise 9 Engineer Co. is submitting a bid for a major job and estimates the following direct labor costs: Engineers Drafters Staff Hours Hourly Rate 210 $ 250.00 140 $ 120.00 350 $ 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 $223177.5 and $272772.5. x a) What is the estimated cost of direct labor for the job? b) What is the estimated cost of the job(Labor & MOH)? c) What should it bid to earn a 30% profit on cost? X