Hansel Company has requested bids from several architects to design its new corporate headquarters. Frey Architects is bidding on thejob. Frey estimates that the job will require the following direct labor. Estimated Hourly Direct Labor Hours Rate Architects 156 $ 300 Staff 312 7'5 Clerical 5?5 29 Frey applies overhead to jobs at 17'53'6 of direct labor cost Frey wants to earn at least $70,000 profit on the architectural job. Based on past experience and market research, it estimates that the competition will bid between $288,000 and $356,000 forthejob. 1. What is Frey's estimated cost of the architectural job? 2 If Frey bids a price of $288,000, what is its expected profit? Will it earn its target profit of $70,000? 3. What bid price would earn the desired $70,000 target prot? Complete this question by entering your answers in the labs below. Required 1 Required 2 Required 3 What is Frey's estimated cost of the architectural job? Total estimated labor_ cost -= Estimated Applied Overhead Total estimated cost Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If Frey bids a price of $288,000, what is its expected profit? Will it earn its target profit of $70,000? If Frey bids a price of $288,000, what is its expected profit? If Frey bids a price of $288,000, will it earn its target profit of $70,000? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 what bid price would earn the desired $70,000 target profit? ( Required 2