Gray Accounting pays Peter Geller $58,500 per year. Requirements 1. What is the hourly cost to Gray Accounting of employing Geller? Assume a 20-hour week and a 45-week year. 2. What direct labor cost would be assigned to Client 507 if Geller works 19 hours to prepare Client 507's financial statements? Requirement 1. What is the hourly cost to Gray Accounting of employing Geller? Assume a 20-hour week and 45-week year. Select the formula below that Gray Accounting would use to calculate the hourly cost and complete the formula. (Round the hourly cost to the nearest cent.) Indirect labor costs Direct labor costs Hourly cost = Requirement 2. What direct labor cost would be assigned to Client 507 if Geller works 19 hours to prepare Client 507's financial statements? Select the formula below that would be used to calculate the direct labor cost assigned to Client 507 and calculate that cost. (Round the direct labor cost to the nearest cent.) = Direct labor cost