Records at Halls Accounting Services show the following costs for year 1. $ Direct materials and supplies Employee costs Total overhead 40,000 2,900,000 1,300,000 Production was 25.000 billable hours. Fixed overhead was $700,000. Assuming no change in billable hours in year 2, direct materials and supplies costs are expected to increase by 10 percent Direct labor costs are expected to increase by 5 percent Variable overhead per billable hour is expected to remain the same, but fixed overhead is expected to increase by 5 percent Required: .. Year 2 production is expected to be 20.000 billable hours. What are the estimated direct materials, direct labor, variable overhead, and foed overhead costs for year 2? b. Determine the total costs per bilable hour for year 1 and year 2. Complete this question by entering your answers in the tabs below. Required A Required B Year 2 production is expected to be 20,000 billable hours. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for year 2? Cost Item Year 2 Cost Direct materials and supplies Direct labor Variable overhead Fbed overhead Totalco