Jones Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2018, managing partner Sandra Jones prepared the following budget for the year: (Click the icon to view the prepared budget.) (Click the icon to view additional information.) Read the requirements. Requirement 1. Compute Jones Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. i Data Table Direct labor / cost rate Estimated direct labor costs 2,300,000 Estimated direct labor hours 20,000 = $ 115 per hour Now compute Jones Realtors' (b) predetermined overhead allocation rate. Direct labor hours (professionals) Direct labor costs (professionals) $ Office rent 20,000 hours 2,300,000 370,000 1,195,000 390,000 Predetermined overhead allocation rate 15 % Estimated direct labor costs Support staff salaries 2,300,000 345,000 Utilities Print Done Choose from any list or enter any number in the input fields and then click Check