Hummingbird Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Hummingbird Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. At the beginning of the current year, managing partner Melody Razadin prepared the following budget: E: (Click the icon to view the prepared budget.) Later that same year in November, Hummingbird Design served several clients. Records for two clients appear here: Click the icon to view the records for two clients.) Read the requirements. Requirement 1. Compute Hummingbird Design's predetermined indirect cost allocation rate for the current year. Identify the formula, then compute the rate. (Enter the result as a whole number.) Predetermined indirect cost allocation rate % Requirement 2. Compute the total cost of each of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter "0" in the appropriate cell. Enter percentage amounts as a whole number. Round your answers to the nearest whole dollar.) Hummingbird Design Estimated Cost of Tasty Coop and SunNow.com Jobs Tasty Coop SunNow.com Next Hummingbird Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Hummingbird Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. At the beginning of the current year, managing partner Melody Razadin prepared the following budget: E: (Click the icon to view the prepared budget.) Later that same year in November, Hummingbird Design served several clients. Records for two clients appear here: 5 Click the icon to view the records for two clients.) Estimated Cost of Tasty Coop and SunNow.com Jobs Tasty Coop SunNow.com Direct Costs: hours x hours x Total Direct Costs Indirect Costs: % %% Total Cost Nex Requirement 3. If Hummingbird Design wants to earn profits equal to 10% of sales revenue, how much (what total fee) should the company charge each of these two clients? Identify the formula then determine the amount Hummingbird Design should charge these clients. (Round your answers to the nearest whole dollar.) Fee charged Tasty Coop % SunNow.com % Requirement 4. Why does Hummingbird Design assign costs to jobs? Hummingbird Design assigns costs to jobs to help the company that cover all costs and contribute to profit. Assigning costs to also can help Hummingbird Design control costs. Read the requirements - X Data Table Data Table Direct labor hours (professional) ..... 10,000 hours Direct labor costs (professional) $ 1,100,000 Support staff salaries .. $ 140,000 Computer lease payments $ 46,000 Office supplies. $ 26,000 Office rent. .................. 63,000 Tasty Coop SunNow.com Direct labor hours ..... 730 hours 60 hours Licensing costs ....... $ 2,200 $ 550 Travel costs .......... $ 12,000 $ 0 Print Done Print Done