Sautter Advertising pays Thomas Tibbs $128,625 per year. Requirements 1. What is the hourly cost to Sautter Advertising of employing Tibbs? Assume a 35-hour week and a 49-week year. 2. What direct labor cost would be assigned to Client 507 if Tibbs works 17 hours to prepare Client 507's magazine ad? Requirement 1. What is the hourly cost to Sautter Advertising of employing Tibbs? Assume a 35-hour week and 49-week year. Select the formula below that Sautter Advertising would use to calculate the hourly cost and complete the formula. (Round the hourly cost to the nearest cent.) Hourly cost Requirement 2. What direct labor cost would be assigned to Client 507 if Tibbs works 17 hours to prepare Client 507's magazine ad? Select the formula below that would be used to calculate the direct labor cost assigned to Client 507 and calculate that cost. (Round the direct labor cost to the nearest cent.) Direct labor cost