Sierra Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Sierra Design traces direct labor, licensing costs, and travel costs directly to each job (client). It allocates indirect costs to jobs based on a predetermined indirect cost allocation rate computed as a percentage of direct labor costs. Requirement 1. Compute Sierra Design's predetermined indirect cost allocation rate for the current year. Identify the formula, then compute the rate. (Enter the result as a whole number.) At the beginning of the current year, managing partner Laurie Walker prepared the following budget: (Click the icon to view the prepared budget.) Later that same year in November, Sierra Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Data Table Requirements + + Predetermined indirect cost allocation rate = % Data Table 1. Compute Sierra Design's predetermined indirect cost allocation rate for the current year. 2. Compute the total cost of each of the two jobs listed. 3. If Sierra Design wants to eam profits equal to 20% of sales revenue, how much (what total fee) should the company charge each of these two clients? 4. Why does Sierra Design assign costs to jobs? Direct labor hours (professional) Direct labor costs (professional) Support staff salaries .... Computer lease payments Office supplies.... Office rent... Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Print Done 10,000 hours $ 1,100,000 $ 140,000 $ 46,000 $ 26,000 $ 63,000 Delightful Dining DineNow.com Direct labor hours... 710 hours 40 hours Licensing costs $ 2,300 $ 300 Travel costs $ 10,000 $ 0 Print Done