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percentage of diect labor costs As the begirring el 2024, managing partner Peter Simms prepared the lolowing tudget flar the year (Click the kcon is vere the preparied todget) Read the watinents More info Root Manufacturing, Inc. is inviting several consultants to bid for work. Peter Simms wants to submit a bid. He estimates that this job will require about 260 direct labor hours. Requirements 1. Compute Simms Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. 2. Compute the predicted cost of the Root Manufacturing job. 3. If Simms wants to earn a profit that equals 48% of the job's cost, how much should he bid for the Root Manufacturing job? Data table