::: Click the icon to view the records for two clier A Data Table - X * Data Table Direct labor hours (professional) ......... 17,600 hours Direct labor costs (professional) .......... 2,464,000 Support staff salaries .... 200,000 Rent and utilities........... 46,000 Supplies ......... 480,000 Lease payments on computer hardware... $ 66,000 Direct labor hours ........ Software licensing costs ..... Travel costs FreeBird.com 780 hours 2,900 $ 7,000 $ Port Chance Golf Resort 50 hours 350 0 Mark & Melody is an advertising agency. The firm uses a job cost system in which each client is a different At the beginning of the current year, managing partner Joe Adda prepared a budget: "job" Mark & Melody traces direct labor, software licensing costs, and travel costs directly to each job Click the icon to view the prepared budget.) (client). The company allocates indirect costs to jobs based on a predetermined indirect cost allocation During January of the current year, Mark & Melody served several clients. Records for two clients appear rate based on direct labor hours. here: (Click the icon to view the records for two clients.) Read the requirements Requirement 1. Compute Mark & Melody's predetermined indirect cost allocation rate for the current year based on direct labor hours. Compute the predetermined indirect cost allocation rate. = Predetermined indirect cost allocation rate per hour Requirement 2. Compute the total cost of each job. First enter the direct costs for each job, then enter the indirect costs and total cost for the jobs. (Complete all answer boxes. For accounts with no balance, make sure to enter "0" in the appropriate column.) Mark & Melody Estimated Cost of FreeBird.com and Port Chance Jobs FreeBird.com Port Chance Golf Resort Direct Costs: hours x hours x Total Direct Costs Indirect Costs: $ $ x[ x[ hours hours Total Cost Requirement 3. If Mark & Melody wants to earn profits equal to 20% of sales revenue, how much (what total fee) should it charge each of these two clients? Determine the formula to compute the amount Mark & Melody should charge these clients, then compute the amounts. (Round your answers to two decimal places, X.XX.) = Fee charged FreeBird.com Port Chance Golf Resort Requirement 4. Why does Mark & Melody assign costs to jobs? Mark & Melody assign costs to jobs to help the company that cover all costs and contribute to profit. Assigning costs to also can help Mark & Melody control costs