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Davis & Company is an architectural firm specializing in home remodeling for private clients and new office buildings for corporate clients Davis charges customers at a billing rate equal to 132% of the client's total job cost A client's total job cost is a combination of (1) professional time spent on the client ($62 per hour cost of employing each professional) and (2) operating overhead allocated to the client's job. Davis allocates operating overhead to jobs based on professional hours spent on the job Davis estimates its five professionals will incur a total of 10,000 professional hours working on client jobs during the year (Click the icon to view the operating cost information) Requirement 1. Calculate the current indirect cost allocation rate per professional hour. (Round your answer to the nearest cent) The current indirect cost allocation rate per professional hour is $22.40 Requirement 2. Calculate the total amount that would be billed to Laughlin given the current costing structure Determine the formula, then calculate the amount that would be billed to Laughlin given the current costing structure. (Round all amo Total cost of job Markup percentage =" Amount billed to client 100% st is a g Annie Laughlin hired Davis to design her kitchen remodeling A total of 25 professional hours were incurred on this job In addition, Laughlin's remodeling job required one of the professionals to travel back and forth to her house for a total of 125 miles. The blueprints had to be copied four times because Laughlin changed the plans several times. In addition, 16 hours of secretarial time were used lining up the subcontractors for the job Read the requirements job st cent) und all amounts to the nearest cent) ost informand Data table direct cost alio per professione All operating costs other than professional salanes (travel roimbursements, copy costs, secretarial salaries oflice lease, and so forth) can be assigned to the three activities Total activity costs, cost drivers, and total usage of those cost drivers are estimated as follows Total Activity Total Usage by Total Usage by Private Activity Cost Cost Driver Corporate Clients Clients Transporation to clients 6000 Roundtrip mileage to his 5.500 miles 0.500 mies Blueprint copying 38,000 Number of copies softop 450 copies Office support 180.000 Secretarul 2,800 societari hours 2,200 secretarial hours $ 224 000 Total operating overhead aunt that would o amount that Mukup percent 100% Print Done - - X Requirements ucture GN 1. 2 3. Calculate the current indirect cost allocation rate per professional hour Calculate the total an unt that would be billed to Laughlin given the current costing structure Calculate the activity cost allocation rates that could be used to allocate operating overhead costs to client jobs Calculate the amount that would be billed to Laughlin using ABC costing Which type of billing system is more fair to clients? Explain 4. 5. on Print Done Check answer Clear all