Hermen Products Ltd makes road trailers to the precise specifications of individual customers. The following are predicted to occur during the forthcoming year, which is about to start: Direct materials cost 50,000 Direct labor cost 160,000 Direct labor time 16,000 hours Indirect labor cost 25,000 Depreciation of machine 8,000 Rent 10,000 Heating, lighting and power 5,000 Indirect materials 2,000 Other indirect cost (overhead) elements 1,000 Machine time 3,000 hours All direct labor is paid at the same hourly rate. A customer has asked the business to build a trailer for transporting a racing motorcycle to race meetings. It is estimated that this will require materials and components that will cost 1,150. It will take 250 direct labor hours to do the job, of which so will involve the use of machinery. 1) Calculate total indirect costs and the overhead recover rate. 2) Calculate the full cost for the job