Gray Accounting pays Thomas Tibbs $109,800 per yaar. Assume that Gray's accountants are expected to work a total of 6,000 direct labor hours in 2018. Gray's estimated total indirect oosts are $360,000 and the allocation base used is direct labor houra. Read the tenuitemene Requirement 1. What is Gray's predetermined overhead allocation rate? - Predetermined overhead allocalion rate Requirement 2. What indirect oosts will be alocaled to Client 507 if Thomas Tibbs, an accountant at Gray Accounting, works 12 hours to prepare the finaricial statemenits? ndirect costs allocate