Scenario: Ark and Bark Dog Food Company team produces and packages cases of dog food. They are not making enough profit as they need and think it may be that their product is not priced correctly. They want you to prepare an estimate. You must show your calculations and formula used. STEP 1: Calculate the direct hourly rate. They have two workers who earn $15 per hour, their payroll taxes are $4 per hour, and they offer $3 per hour in fringe benefits. They each work 40 -hour shifts per week. Calculate Total Labor Costs: (5pts) They have an inspector/packaging specialist that earns $25 per hour who also works 40 hours per week with $5 per hour payroll taxes and $3 per hour in fringe benefits. Calculate the labor cost for this employee: (5pts) Re-calculate Total Labor Costs: (3pts) The direct hourly labor rate is: (3pts)