Sheila Smith, CPA, pays her new staff accountant, Abby, a salary equivalent to $26 per hour while Sheila receives a salary equivalent to $37 per hour. The firm's predetermined indirect cost allocation rate for the year is $8 per hour. Smith bills for the firm's services at 33% over cost. Assume Sheila works 6 hours and Abby works 11 hours preparing a tax return for Madison Morris. 1. What is the total cost of preparing Morris's tax return? 2. How much will Sheila bill Morris for the tax work? 1. What is the total cost of preparing Morris's tax return? Enter the direct and indirect costs for preparing Morris's tax return. Direct Cost: Sheila's time hrs X Direct Cost: Abby's time hrs. X Total Direct Cost: Indirect Cost: hrs X Total cost of preparing tax return 2. How much will Sheila bill Morris for the tax work? Enter the profit markup and the amount to bill Morris. (Round your answer for profit markup to the nearest whole dollar.) Total cost of preparing tax return Plus profit markup: % Amount to bill Morris