Uuuwesto Seved Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results Users Revenues Engineering hours Engineering cost Administrative costs Toot! Tix Total 7,780 15,600 23,300 $ 1,350,000 $980,000 5 2,330,000 10,600 6,600 17,200 $ 255,000 $ 375,000 5 630,000 5 629,100 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SM uses the revenue to allocate administrative costs. b. Based on the rates computed in requirement (%), what is the profit for each service? Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SME uses the revenue to allocate administrative costs. Predetermined overhead rate SA Required B > O BE search Seved Social Media, Inc. (SMI) has two services for users. Tootl, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Users Revenues Engineering hours Engineering cost Administrative costs Toot! 7,700 $1,350,000 10,600 $ 255,000 TIX 15,600 $ 980,000 6,600 $375,000 Total 23,300 $ 2,330,000 17,298 $ 630,690 $ 629,100 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SM uses the revenue to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service? Complete this question by entering your answers in the tabs below. Required A Required B Based on the rates computed in requirement (a), what is the profit for each service? Service Profit Toot TIX