Required information PR 3-47 (Algo) Job-Order Costing in a Consulting Firm (LO 3-1, 3-2, 3-4, 3-8) [The following information applies to the questions displayed below] JLR Enterprises provides consulting services throughout California and uses a job-order costing system to accumulate the cost of client projects. Traceable costs are charged directly to individual clients; in contrast, other costs incurred by JLR. but not identifiable with specific clients, are charged to jobs by using a predetermined overhead application rate. Clients are billed for directly chargeable costs, overhead, and a markup. JLR's director of cost management, Victor Anthony, anticipates the following costs for the upcoming year: The firm's partners desire to make a $672,000 profit for the firm and plan to add a percentage markup on total cost to achieve that figure. On March 10, JLR completed work on a project for Martin Manufacturing. The following costs were incurred: professional staff salaries, \$46.000; administrative support staff, \$3,600; travel, \$6,500; photocopying. \$1,500; and other operating costs, $2,400 PR 3-47 (Algo) Part 2 Calculate the predetermined overhead rate. 2. Calculate the predetermined overhead rate. The rate is based on total costs traceable to client jobs