e Wrap lext Paste Copy I U Format B Office Update To keep up-to-date wlth security updates, fixes, and Improvements, choose Check for Updates. 1 Exercise 9 Engineer Co., Is submitting a bid for a major job and estimates the following direct labor costs Hours Hourly Rate 30 250.00 20 120.00 50 20.00 Engineers Drafters Engineer Co. has no direct material costs and applies overhead at a rate of 150% of direct labor cost. It estimates the competition will bid between $31882.5 and $38967.5 a) What is the estimated cost of direct labor for the job? b) What is the estimated cost of the job? c) what should it bid to earn a 30% profit on cost? 10 13 L5 16 .8 0