Part 1 of 4 Points: 0 of 2 Save Root Consulting, a real estate consulting firm, specializes in advising companies on potential new plant sites. The firm uses a job cost system with a predetermined indirect cost allocation rate Kcomputed as a percentage of expected direct labor costs. At the beginning of the year, managing partner Paula Root prepared the following plan, or budget, for the year (Click the icon to view the prepared budget.) Read the requirements. Requirement 1 a. Compute Root Consulting's hourly direct labor cost rate. (Round your answer to the nearest whole dollar.). Direct labor rate per hour Read the requirements. Data table Requirement 1 a. Compu Direct labor hours (professionals) 16,000 hours Direct labor costs (professionals).. $ 2,350,000 Office rent.. $ 270,000 Support staff salaries 930,000 Utilities.. $ 300,000 Tibbs Resources is inviting several consulting firms to bid for work. Root estimates that this job will require about 260 direct labor hours. Printi Done - X Requirements Requirement 1 a. C Requirements 1. Compute Root Consulting's (a) hourly direct labor cost rate and (b) indirect cost allocation rate. 2. Compute the predicted cost of the Tibbs Resources job. 3. If Root Consulting wants to earn a profit that equals 55% of the job's cost, how much should the company bid for the Tibbs Resources job? Print Done X