Requirement 1. Compute Tibbs Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate Begin with (a) hourly direct labor cost rate. Direct labor costat Data Table per hour Now compute Tibbs Realtors' (b) predetermined overhead allocation rate 17 500 hours $ 2,800,000 Direct labor hours professionals Direct labor costs (professionals) Otoront Support staff salaries Utos 310,000 Predetermined overhead alocation rate % 1,830,000 380.000 Requirement 2. Compute the predicted cost of the White Manufacturing job. Tibbs Realtors Estimated Cost of the White Manufacturing Job hrs. x % X II Total predicted cost Requirement 3. If Tibbs wants to eam a profit that equals 30% of the job's cost, how much should he bid for the White Manufacturing job? Add: Required service revenue Requirement 1. Compute Tibbs Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate Begin with (a) hourly direct labor cost rate. Direct labor costat Data Table per hour Now compute Tibbs Realtors' (b) predetermined overhead allocation rate 17 500 hours $ 2,800,000 Direct labor hours professionals Direct labor costs (professionals) Otoront Support staff salaries Utos 310,000 Predetermined overhead alocation rate % 1,830,000 380.000 Requirement 2. Compute the predicted cost of the White Manufacturing job. Tibbs Realtors Estimated Cost of the White Manufacturing Job hrs. x % X II Total predicted cost Requirement 3. If Tibbs wants to eam a profit that equals 30% of the job's cost, how much should he bid for the White Manufacturing job? Add: Required service revenue