Question: Please answer completely and correctly and i will give a thumbs up Hansel Company has requested bids from several architects to design its new corporate
Hansel Company has requested bids from several architects to design its new corporate headquarters. Frey Architects is bidding on the job. Frey estimates that the job will require the following direct labor. Estimated Hourly Direct Labor Hours Rate Architects 178 $ 300 Staff 356 75 Clerical 850 20 Frey applies overhead to jobs at 175% of direct labor cost. Frey wants to earn at least $35,000 profit on the architectural job. Based on past experience and market research, it estimates that the competition will bid between $299,000 and $378,000 for the job. 1. What is Frey's estimated cost of the architectural job? 2. If Frey bids a price of $299,000, what is its expected profit? Will it earn its target profit of $35,000? 3. What bid price would earn the desired $35,000 target profit? Complete this question by entering your answers in the tabs below. Required 1 Respired 2 Required Required 2 What is Frey's estimated cost of the architectural job? Estimated Cost Direct labor Estimated hours Hourly rata Labor cost Total Cost OH baso OH rate Total estimated labor cost Overhead Estimated Applied Overhead Total estimated cost
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