Question: Please help me solve this general accounting problem with the correct financial process. Aconsulting firm estimates its direct labor costs to be $4,500,000 for the

Please help me solve this general accounting problem with the correct financial process.

Aconsulting firm estimates its direct labor costs to be $4,500,000 for the year. The estimated direct labor hours are 60,000. Overhead is allocated based on direct labor hours, and estimated overhead is $1,200,000 annually. The firm desires a 50% markup. Calculate the following: 1. Direct labor rate per hour 2. Predetermined overhead allocation rate

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