Falcon Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Falcon Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. At the beginning of the current year, managing partner MaryAlice Distasio prepared the following budget:

Later that same year in November, Falcon Design served several clients. Records for two clients appear here:

Visual requirements:

Requirements:

1. Compute Falcon Design's predetermined indirect cost allocation rate for the current year.

2. Compute the total cost of each of the two jobs listed.

3. If Falcon Design wants to earn profits equal to 20% of sales revenue, how much (what total fee) should the company charge each of these two clients?

4. Why does Falcon Design assign costs to jobs

Please help Chegg ! :)))

1: Data Table 8,000 hours $ 1,600,000 190,000 $ Direct labor hours (professional) Direct labor costs (professional) Support staff salaries ... Computer lease payments Office supplies.. Office rent. $ 41,000 23,000 $ $ 66,000 2: Data Table Organic Foods SunNow.com Direct labor hours ..... 750 hours 65 hours Licensing costs. $ 2,200 $ 400 Travel costs $ 9,000 $ 0 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 (1) (2) cost allocation rate % Requirement 2. Compute the total cost of each of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter "0" in the appropriate cell. Enter percentage amounts as a whole number. Round your answers to the nearest whole dollar.) Falcon Design Estimated Cost of Organic Foods and SunNow.com Jobs Organic Foods SunNow.com Direct Costs: (3) hours x hours x (5) Total Direct Costs Indirect Costs: % x % x Total Cost Requirement 3. If Falcon Design wants to earn profits equal to 20% of sales revenue, how much (what total fee) should the company charge each of these two clients ? Identify the formula then determine the amount Falcon Design should charge these clients. (Round your answers to the nearest whole dollar.) (6) (7) Fee charged Organic Foods % ps://xlitemprod.pearsoncmg.com/api/v1/print/accounting 1/3 9/2021 SunNow.com % 11 Requirement 4. Why does Falcon Design assign costs to jobs? Falcon Design assigns costs to jobs to help the company (8). that cover all costs and contribute to profit. Assigning costs to (9) also can help Falcon Design control costs