Skylark Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Skylark 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. At the beginning of the current year, managing partner Cadence Winston prepared the following budget: (Click the icon to view the prepared budget.) Later that same year in November, Skylark Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Requirement 1. Compute Skylark 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.) Predetermined indirect Total estimated indirect costs Total estimated direct labor cost . cost allocation rate + % Requirement 2. Compute the total cost of each of the two jobs listed. First enter in the direct costs for each job, then enter in the indirect costs and total cost for the jobs. (Complete all input fields. For accounts with no balance, make sure to enter "O" in the appropriate cell. Enter percentage amounts as a whole number. Round your answers to the nearest whole dollar.) Skylark Design Estimated Cost of Lovely Libations and SunNow.com Jobs Lovely Libations SunNow.com Choose from any list or enter any number in the input fields and then continue to the next question. ? Skylark Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Skylark 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. At the beginning of the current year, managing partner Cadence Winston prepared the following budget: (Click the icon to view the prepared budget.) Later that same year in November, Skylark Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Skylark Design Estimated Cost of Lovely Libations and SunNow.com Jobs Lovely Libations SunNow.com Direct Costs: hours x hours Total Direct Costs Indirect Costs: % x le Choose from any list or enter any number in the input fields and then continue to the next question. Skylark Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Skylark 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. At the beginning of the current year, managing partner Cadence Winston prepared the following budget: (Click the icon to view the prepared budget.) Later that same year in November, Skylark Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Direct Costs: hours x hours x Total Direct Costs Indirect Costs: % x 9 % x Total Cost Requirement 3. If Skylark Design wants to earn profits equal to 40% of sales revenue, how much (what total fee) should the company charge each of these two clients? Identify the formula then determine the amount Skylark Design should charge these clients. (Round your answers to the nearest whole dollar.) Choose from any list or enter any number in the input fields and then continue to the next question. Skylark Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Skylark 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. At the beginning of the current year, managing partner Cadence Winston prepared the following budget: B (Click the icon to view the prepared budget.) Later that same year in November, Skylark Design served several clients. Records for two clients appear here: (Click the icon to view the records for two clients.) Read the requirements. Total Direct LOSLS Indirect Costs: % % X Total Cost Requirement 3. If Skylark Design wants to earn profits equal to 40% of sales revenue, how much (what total fee) should the company charge each of these two clients? Identify the formula then determine the amount Skylark Design should charge these clients. (Round your answers to the nearest whole dollar.) Fee charged Lovely Libations % SunNow.com % = Requirement 4. Why does Skylark Design assign costs to jobs? Skylark Design assigns costs to jobs to help the company that cover all costs and contribute to profit. Assigning costs to also can help Skylark Design control costs. Choose from any list or enter any number in the input fields and then continue to the next question. Skylark Design is an interior design firm. The firm uses a job cost system in which each client is a different "job." Skylark 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. At the beginning of the current year, managing partner Cadence Winston prepared the following budget: B (Click the icon to view the prepared budget.) Later that same year in November, Skylark Design served several clients. Records for two clients appear here: i X Data Table Data Table Total VieCL LUSLS Indirect Costs: % x Lovely Libations % X Sun Now.com 10,000 hours $ 1,300,000 $ 160,000 Direct labor hours (professional) Direct labor costs (professional) Support staff salaries Computer lease payments Office supplies Direct labor hours ..... 680 hours Total Cost 50 hours $ 48,000 Licensing costs $ 3,100 $ 500 Requirement 3. If Skylark Design wa tal fee $ 28,000 Travel costs $ 7,000 $ 0 Identify the formula then determine th Office rent $ 63,000 nswer charg Print Done Lovely Libations Print Done SunNow.com Requirement 4. Why does Skylark Design assign costs to jobs? Skylark Design assigns costs to jobs to help the company that cover all costs and contribute to profit. Assigning costs to also can help Skylark Design control costs. Choose from any list or enter any number in the input fields and then continue to the next