Lucero Associates is a construction engineering fem that prepares detailed comtruction drawings for single-family homes. The market for this service is very competitive To compete successfully Lucero munt deliver quality service at low cost. Lucero presents the following data for 2019 and 2020 (Click the icon to view the data) Data table - X jobs it can Engineering labor hour costs are variable costs Engineering support costs for each year depend on the engineering support capacity that Lucero chooses to maintain each year (that is, the number do each year) Engineering support costs do not vary with the actual number of jobs done i Read the requirements 2019 2020 1. Number of jobs billed 2. Selling price per job 3. Engineering labor-hours 300 3,500 $ 20.000 450 3,000 21,000 4 Cost per engineering labor-hour 31.5 32 5. Engineering support capacity (number of jobs the firm can do 700 700 6. Total cost of engineering support (space rent, equipment, etc.) 7. Engineering support-capacity cost per job 3 182,000 $ 255 000 $ 260 378 Requirements 1. Calculate the operating income of Lucero Associates in 2019 and 2020 2. Calculate the growth, price-recovery, and productivity components that explain the change in operating income from 2019 2020 3 Comment on your answer in requirement 2 What do these components indicate? Print Done