Martin 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 2024, managing partner Debra Martin 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 Martin Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. Data table Direct labor hours (professionals) Direct labor costs (professionals) Office rent Support staff salaries Utilities Direct labor cost rate per hour 23,600 hours 2,950,000 390,000 1,097,500 430,000 More info Simms Manufacturing, Inc. is inviting several consultants to bid for work. Debra Martin wants to submit a bid. She estimates that this job will require about 260 direct labor hours. Print Done -X Requirements 1. Compute Martin Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. 2. Compute the predicted cost of the Simms Manufacturing job. 3. If Martin wants to earn a profit that equals 48% of the job's cost, how much should she bid for the Simms Manufacturing job? Print Done