Keaton & Associates is a law firm specializing in labor relations and employee-related work. It employs 20 professionals (4 partners and 16 associates) who work directly with its clients. Previously the firm accounted for all professional labor cost in a single direct-cost account and all other costs in a single indirect-cost pool. (Click the icon to view the cost information and rates under the previous method.) Keaton has just completed a review of its job-costing system. (Click the icon to view the job-costing review information.) Budgeted information for 2020 related to the two direct-cost categories is as follows: (Click the icon to view the budgeted information.) Read the requirements D Requirement 1. Compute the 2020 budgeted direct-cost rates for (a) professional partners and (b) professional associates Begin by selecting the formula, then enter the amounts to compute both rates. (Abbreviations used: Assoc Budgeted compensation per professional Budgeted billable hours per professional 1500 Partner Assoc. 1500 180000 90000 Associate) Budgeted direct cost rate per hour 120 per hour 60 per hour Requirement 2. Compute the 2020 budgeted indirect-cost rates for (a) general support and (b) secretarial support Begin by selecting the formula, then enter the amounts to compute both rates. (Round your answers to the nearest whole dollar) General Secretarial Budgeted indirect-costs 1,950,000 300,000 Budgeted indirect cost rate per hour per hour per hour Requirement 3. Compute the budgeted costs for the Richardson and Punch jobs based upon the hours each job is budgeted to use. Richardson, Inc. Direct-costs: Professional partners 5280 Professional associates 3960 Direct-costs Punch, Inc. 3600 14400