Please answer these in excel & show the excel formulas please. thank you WILL RATE

1. Calculate the revised indirect-cost allocation rate per professional labor-hour for Timlin Associates when total indirect costs are $175,000. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions/Jobfiles tabs or if you type the numbers in, you will be marked wrong.) 2. Compute the costs of the Lopez Enterprises and Clinical Inc. jobs if Timlin Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions/Jobfiles tabs or if you type the numbers in, you will be marked wrong.) Timlin Associates is a recently formed law partnership. Timlin Associates operates at capacity and uses a costbased approach to pricing (billing) each job. Currently it uses a simple costing system with a single direct-cost category (professional labor-hours) and a single indirect-cost pool (general support). Indirect costs are allocated to cases on the basis of professional labor-hours per case. The job files for two of Timlin's clients, Lopez Enterprises and Clinical Inc., can be found on the "JOBFILES" tab. Rachel Hamilton, the managing partner of Timlin Associates, asks her assistant to collect details on those costs included in the $625,000 indirect-cost pool that can be traced to each individual job (see "JOBFILES" tab for details). After analysis, Timlin is able to reclassify $450,000 of the $625,000 as direct costs. The direct costs can be found on the "JOBFILES" tab. Hamilton decides to calculate the costs of each job as if Timlin had used six direct-cost pools and a single indirect-cost pool. The single indirect-cost pool would have $175,000 of costs and would be allocated to each case using the professional labor-hours base. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions/Jobfiles tabs or if you type the numbers in, you will be marked wrong. Rr 1 Calculate the revised indirect-cost allocation rate per professional labor-hour for Timlin Associates when total indirect costs are $175,000. 2 Compute the costs of the Lopez Enterprises and Clinical Inc. jobs if Timlin Associates had used its refined costing system with multiple direct-cost categories and one indirect-cost pool. **DATA SHEET -- DO NOT ENTER ANSWERS HERE** The job files for two of Timlin's clients, Lopez Enterprises and Clinical Inc., show the following: Professional labor costs at Timlin Associates are $250 an hour. Indirect costs are allocated to cases at $125 an hour. Total indirect costs in the most recent period were $625,000. Total cost of the jobs using the simple costing system are as follows: 1. Calculate the revised indirect-cost allocation rate per professional labor-hour for Timlin Associates when total indirect costs are $175,000. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions/Jobfiles tabs or if you type the numbers in, you will be marked wrong.)