ses 5:29. 5-345-36 Saved Exercise 5-34 (Algo) Methods of Estimating Costs: Account Analysis (LO 5-3) Records at Hal's Accounting Services show the following costs for year 1 $ Direct materials and supplies Employee costs Total overhead 42,00 2.900,000 1,370,000 Production was 25,000 billable hours. Fixed overhead was $770,000 Assuming no change in bilable hours in year 2. direct materials and suppiles costs are expected to increase by 10 percent. Direct labor costs are expected to increase by 15 percent Variable overhead per billable hour is expected to remain the same, but fixed overhead is expected to increase by 5 percent Required: a. Year 2 production is expected to be 20.000 billable hours. What are the estimated direct materials, direct tabor variable overhead and fixed overhead costs for year 2? b. Determine the total costs per billable hour for year and year 2 Complete this question by entering your answers in the tabs below Required A Required Year aroduction expected to be 20.000 billable hours. What are the estimated direct materials direct labot variable athend and fixed overhead cars for year 2 Dondime mo Year 2 Cost am Tender Smo E Veetgold Whitenin... cises 5-29.5 34.5 36 2 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 15 percent. Variable overhead per billable hour is expected to remain the same, but bed overhead is expected to increase by 5 percent, Required: a. Year 2 production is expected to be 20,000 billable hours. What are the estimated direct materials, direct labor, vartable overhead, and fixed overhead costs for year 2? b. Determine the total costs per billable hour for year 1 and year 2 ook ances 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 27 (Do not round Intermediate calculations) Year 2 Cost Cost Item Direct materials and supplies Direct labor Vanable overhead Fedoverhead Total costs Read > 5-29.5-34, 5-36 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 15 percent. Variable overhead per billable hour is expected to remain the same, but fixed overhead is expected to increase by 5 percent Required: a. 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? b. Determine the total costs per billable hour for year 1 and year 2. Complete this question by entering your answers in the tabs below Required A Required B Determine the total costs per billable hour for year 1 and year 2 Do not found intermediate calculations. Round your were to 2 decimal places.) Cost per Blable Hour Year Maar