Martin 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 indirect cost allocation rate, com- puted as a percentage of direct labor costs. At the beginning of 2009, managing partner Ken Martin prepared the following budget for the year: Direct labor hours (professionals) Direct labor costs (professionals)............... $2,550,000 Office rent.................. 300,000 900,000 Support staff salaries.. Utilities........ 330,000 17,000 hours Lieberman Manufacturing, Inc., is inviting several consultants to bid for work. Ken Martin estimates that this job will require about 220 direct labor hours. Requirements 1. Compute Martin Realtors' (a) hourly direct labor cost rate and (b) indirect cost allocation rate. (pp. 960-963) 2. Compute the predicted cost of the Lieberman Manufacturing job. (pp. 960-963) 3. If Martin wants to earn a profit that equals 50% of the job's cost, how much should he bid for the Lieberman Manufacturing job? (pp. 960-963)