Hansel Company has requested bids from several architects to design its new corporate headquarters. Frey Architects is bidding on the job. Frey estimates that the job will require the following direct labor. Direct Labor Architects Staff Hourly Rate Estimated Hours 176 $ 300 352 Clerical 825 75 20 Frey applies overhead to jobs at 175% of direct labor cost. Frey wants to earn at least $40,000 profit on the architectural job. Based on past experience and market research, it estimates that the competition will bid between $298,000 and $376,000 for the job. 1. What is Frey's estimated cost of the architectural job? 2. If Frey bids a price of $298,000, what is its expected profit? Will it earn its target profit of $40,000? 3. What bid price would earn the desired $40,000 target profit? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is Frey's estimated cost of the architectural job? If Frey bids a price of $298,000, what is its expected profit? Will it earn its target profit of $40,000? If Frey bids a price of $298,000, what is its expected profit? What bid price would earn the desired $40,000 target profit? Estimated selling price Direct labor Estimated Cost Estimated hours Hourly rate Labor cost Total Cost If Frey bids a price of $298,000, will it earn its target profit of $40,000? Total estimated labor cost Overhead Estimated Applied Overhead Total estimated cost OH base OH rate