ve & 1 Exercise 5-34 (Algo) Methods of Estimating Costs: Account Analysis (LO 5-3) Records at Hals Accounting Services show the following costs for yeart 2.5 Do Direct materials and supplies Employee costs Total overhead $ 47,000 2,000,000 1,320.000 sed Production was 40.000 billable hours. Fixed overhead was $750,000, Assuming no change in billable hours in year 2, direct materials and supplies costs are expected to increase by 10 percent Direct labor costs are expected to increase by 15 percent. Variable overhelper bidable hour is expected to remain the same, but foed overhead is expected to increase by 5 percent Required: a. Your 2 production is expected to be 32,000 billable hours. What are the estimated direct materials, direct labor, variatie overhead b. Determine the total costs per billable hour for year and year 2 leference Complete this question by entering your answers in the tabs below Required A Required Year 2 production is expected to be 32.000 billable hours. What are the estimated direct materials direct labor. variable Newt> Required: a. Year 2 production is expected to be 32,000 billable hours. What are the estimated direct materials, direct lobor, variable overhead, and fixed overhead costs for year 2? b. Determine the total costs per billable hour for year 1 and year 2. Complete this question by entering your answers in the tabs below Required A Required B Year 2 production is expected to be 32,000 billable hours. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for year 2? (Do not round intermediate calculations.) Cost Item Year 2 Cost Direct materials and supplies Direct labor Variable overhead Fixed overhead Total costs $ 0 BA Required > Complete this question by entering your answers in the tabs below Required A Required B Determine the total costs per billable hour for year 1 and year 2. (Do not round Intermediate calculations, Round your answers to 2 decimal places.) Cost per Billablo Hour Year 1 Year 2