Simms Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, managing partner Jennifer Simms prepared the following budget for the year: Click the loon to view the prepared budget.) Click the icon to view additional information) Read the resultements Requirement 1. Compute Simma Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct tabor cost rate Direct labor cost rate per hour Now compute Simms Realtors' (b) predetermined overhead allocation rate, Predetermined overhead allocation rate Requirement 2. Compute the predicted cost of the Peters Manufacturing job Simms Realtors Estimated cost of the Peters Manufacturing Job Thr Total predicted cost Requirements, immo wants to earn a proftrat equals 30% of the job's cont. how much should she bid for the Peters Manufacturing job? Add Required service revenue 17,500 hours Direct labor hours (professionals) Direct labor costs (professionals) $ 2,800,000 Office rent 320,000 1,820,000 Support staff salaries Utilities 380,000 Simms Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, managing partner Jennifer Simms prepared the following budget for the year: Click the loon to view the prepared budget.) Click the icon to view additional information) Read the resultements Requirement 1. Compute Simma Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct tabor cost rate Direct labor cost rate per hour Now compute Simms Realtors' (b) predetermined overhead allocation rate, Predetermined overhead allocation rate Requirement 2. Compute the predicted cost of the Peters Manufacturing job Simms Realtors Estimated cost of the Peters Manufacturing Job Thr Total predicted cost Requirements, immo wants to earn a proftrat equals 30% of the job's cont. how much should she bid for the Peters Manufacturing job? Add Required service revenue 17,500 hours Direct labor hours (professionals) Direct labor costs (professionals) $ 2,800,000 Office rent 320,000 1,820,000 Support staff salaries Utilities 380,000