(Answered) Question - a local engineering firm is bidding on a design

Accounting

Question - A local engineering firm is bidding on a design project for a new client. The total budgeted direct-labor costs for the firm are $600,000. The total budgeted indirect costs are $800,000. It is estimated that there are 10,000 billable hours in total.

Required:

a. What is the budgeted direct-labor cost rate?

b. What is the budgeted indirect-cost rate assuming direct-labor cost is the allocation base?

c. What should be the engineering firm bid on the project if the direct labor hours are estimated at 300 hours?

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