Please answer the whole question instead of part of it

Information relating to Valley Inc. follows: (Click the icon to view the company's information.) 1. Compute Valley's indirect cost allocation rate. 2. Compute the total costs assigned to the Sovak and Betten engagements. 3. Compute the operating income from the Sovak and Betten engagements. Requirement 1. Compute Valley's indirect cost allocation rate. First identify the formula used to compute the indirect cost allocation rate, then compute the rate. (Round your answer to two decimal places.) Indirect cost allocation rate (per hr) More info = Actual direct labour costs Actual total indirect costs Estimated direct labour costs of Valley's como Estimated direct labour hours Estimated total indirect costs Valley Inc. is a technology consulting firm focused on website development and integration of internet business applications. President Civilla Gilardi's ear is ringing after an unpleasant call from client Joe Sovak. Sovak was irate after opening his bill for Valley's redesign of his company's website. Sovak said that Valley's major competitor, Alpha Applications, charged much lower fees to another company for which Sovak serves on the board of directors. Gilardi is puzzled for two reasons. First, she is confident that her firm knows website design app has applications can undercut Valley's rates and still make a and well ey's competitors. Gilardi cannot understand how Alpha profit. But Alpha Applications is reputed to be very profitable. Second, just yesterday Gilardi received a call from client Russell Betten. Betten was happy with the excellent service and reasonable fees Gilardi charged him for adding a database-driven job-posting feature to his company's website. Gilardi was surprised by Betten's compliments because this was an unusual job for Valley that required development of complex database management and control applications, and she had felt a little unea cepting it. Like most consulting firms, Valley traces direct labour to individual engagements Valley allocated indirect costs to engagements using a budgeted rate based on direct labour hours. Gilardi is happy with this system, which she has used since she established Valley in 1994. Gilardi expects to incur $724,000 of indirect costs this year, and she expects her firm to work 5,300 direct labour hours. Gilardi and the other systems consultants earn $390 per hour. Clients are billed at 185% of direct labour cost. Last month, Valley's consultants spent 120 hours on Sovak's engagement. They also spent 120 hours on Betten's engagement. Indirect cost allocation rate jobs). Print Done