Hansel Corporation has requested bids from several architects to design its new corporate headquarters, Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor. Estimated Hours 176 Labor Architects Stat Clerical Hourly Rate $300 75 352 825 Frey applies overhead to jobs at 175% of direct labor cost. Frey would like to eam 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, will it eam its target profit of $40,000? 3. What is Frey's Estimated selling price? 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 yob? 2:02 AM Required 1 Required 2 Required 3 What is Frey's estimated cost of the architectural job? Total Cost Estimated Cost Labor Estimated hours Hourly rate Architects 176 $ 300.00 Clerical 825 $ 20.00 Staff 352S 75.00 Total estimated labor cost Overhead OH Base Estimated Applied Overhead Total estimated cost + Labor Cost $ 52,800 16,500 26,400 95,700 OH rate Required 2 > Required 1 Required 2 Required 3 What is Frey's Estimated selling price? Estimated selling price