Pelican Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Pelican Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. At the beginning of the current year, managing partner Elizabeth Morin prepared the following budget: (Click the icon to view the prepared budget.) Later that same year in November, Pelican Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. 1. Compute Pelican Design's predetermined indirect cost allocation rate for the current year. 2. Compute the total cost of each of the two jobs listed. 3. If Pelican Design wants to earn profits equal to 20% of sales revenue, how much (what total fee) should the company charge each of these two clients? 4. Why does Pelican Design assign costs to jobs? Requirement 1. Compute Pelican Design's predetermined indirect cost allocation rate for the current year. Identify the formula, then compute the rate. (Enter the result as a whole number.) Requirement 2 Compute the total cost of esch of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter " O in the appropriate cell. Enter percentage amounts as a whole number. Round your answers to the noasest whole doliar.) Pelican Design Estimated Cost of Fancy Food and StarNow.com Jobs Requirement 3. It Pelican Design wants to eam profits equal to 20% dt sales revenue, how much (What total fee) should the company charge each of these two cients? Identify the formula then determine the amount Pelican Design should charge these clients. (Round your answors to the nearest whole dollar) Requirement 4. Why does Pelican Design assign costs to jobs? Pelican Design assigns costs to jobs to help the company that cover al costs and contribute to profit, Assigning costs to also can help Polican Design control costs