Question 5, Part 2. Please answer in the same format as the question so I know where to put the answers
Extracted text: Requirement 2. Compute the predicted cost of the Maynard Manufacturing job. Chance Realtors Estimated Cost of the Maynard Manufacturing Job hrs. x % x Total predicted cost II
Extracted text: Chance 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 overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2018, managing partner Andrew Chance prepared the following budget for the year: E (Click the icon to view the prepared budget.) A (Click the icon to view additional information.) Read the requirements. Requirement 1. Compute Chance Realtors' (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate. Begin with (a) hourly direct labor cost rate. i Data Table Direct labor Estimated direct labor costs Estimated direct labor hours cost rate + $ 2,200,000 13,750 160 per hour Direct labor hours (professionals) 13,750 hours Now compute Chance Realtors' (b) predetermined overhead allocation rate. Direct labor costs (professionals) $ 2,200,000 Predetermined overhead Office rent 330,000 Estimated total indirect costs Estimated direct labor costs allocation rate Support staff salaries 1,200,000 $ 1,980,000 2,200,000 90 % Utilities 450,000 Requirement 2. Compute the predicted cost of the Maynard Manufacturing job. Print Done Chance Realtors