Falcon Design is an interior design firm. The firm uses a job cost system in At the beginning of the current year, managing partner Sarah Munro prepared which each client is a different "job." Falcon Design traces direct labor, licensing the following budget: costs, and travel costs directly to each job (client). It allocates indirect costs to (Click the icon to view the prepared budget.) jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. Later that same year in November, Falcon Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Requirement 1. Compute Falcon Design's predetermined indirect cost allocation rate for the current year. Identify the formula, then compute the rate. (Enter the result as a whole number.) Predetermined indirect - cost allocation rate = % Actual manufacturing costs Machine hours Total estimated direct labor cost Total estimated direct labor hours Total estimated indirect costs Total estimated manufacturing costs i - Data Table X Data Table 7,500 hours Organic Foods AllFood.com Direct labor hours (professional) Direct labor costs (professional) $ 720 hours Direct labor hours.. 50 hours 1,500,000 180,000 $ Support staff salaries ..... $ Licensing costs 2,600 $ 550 $ 46,000 Travel costs $ Computer lease payments 12,000 $ 0 Office supplies... $ 24,000 Office rent.. $ 65,000 Print Done