Southeast, Inc. is a technology consulting firm focused on Web site development and integration of Internet business Kapplications. The president of the company expects to incur $560,000 of indirect costs this year, and she expects her firm to work 3,500 direct labor hours. Southeast's systems consultants provide direct labor at a rate of $300 per hour. Clients are billed at 160% of direct labor cost. Last month, Southeast's consultants spent 120 hours on Stockman's engagement Requirements 1. Compute Southeast's predetermined overhead allocation rate per direct labor hour. 2. Compute the total cost assigned to the Stockman engagement. 3. Compute the operating income from the Stockman engagement. Requirement 1. Compute Southeast's predetermined overhead allocation rate per direct labor hour Select the formula, then enter the amounts to calculate the predetermined overhead (OH) allocation rate. Predetermined OH allocation rate