Peters 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 Sanjog Peters prepared the following budget for the year: Click the icon to view the prepared budget.) A (Click the icon to view additional information.) Read the requirements. Requirement 1. Compute Peters Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. Direct labor Estimated direct labor costs VIE cost rate per hour Now compute Peters Realtors' (b) predetermined overhead allocation rate. Predetermined overhead allocation rate % Requirement 2. Compute the predicted cost of the Juda Manufacturing job. Peters Realtors Estimated Cost of the Juda Manufacturing Job hrs. * % x Total predicted cost Requirement 3. If Peters wants to earn a profit that equals 48% of the job's cost, how much should he bid for the Juda Manufacturing job? Add: Required service revenue Peters 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 Sanjog Peters prepared the following budget for the year: E: (Click the icon to view the prepared budget.) (Click the icon to view additional information.) Read the requirements Requirement 1. Compute Peters Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. Direct labor Estimated direct labor costs cost rate Estimated direct labor hours 23600 2950000 125 per hour Data Table Now compute Peters Realtors' (b) predetermined overhead allocation rate. Predetermined overhead More Info allocation rate 23,600 hours 2,950,000 $ % Direct labor hours (professionals) Direct labor costs (professionals) Office rent Support staff salaries Utilities 320.000 Requirement 2. Compute the predicted cost of the Juda Manufacturing job. 1,217.500 Juda Manufacturing, Inc. is inviting several consultants to bid for work. Sanjog Peters wants to submit a bid. He estimates that this job will require about 260 direct labor hours. Peters Realtors 380,000 Estimated Cost of the Juda Manufacturing Job hrs. x Print Done Print Done % x Total predicted cost Requirement 3. If Peters wants to earn a profit that equals 48% of the job's cost, how much should he bid for the Juda Manufacturing job? Add: Required service revenue