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Exercise 5-33 (Static) Methods of Estimating Costs: Account Analysis (LO 5-1, 2) Hughes Payroll and Clerical Services (HPCS) provides payroll, bookkeeping, and other services to small businesses. HPCS financial records show the following costs for last quarter (QTR T): HPCS recorded 4,375 billable hours in OTR 1 and fixed administrative cost was $245,000. Assuming no change in billable hours in the next quarter (QTR 2), supplies costs are expected to increase by 5 percent. Direct labor costs are expected to increase by 12 percent. Variable administration per billable hour is expected to remain the same, but fixed administration cost is expected to decrease by 7 percent. Required: a. HPCS expects to bill 5,425 hours next quarter. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for next quarter (QTR 2)? b. Determine the total costs per bllable hour for QTR 1 and QTR 2 . Complete this question by entering your answers In the tabs below. HPCS expects to bill 5,425 hours next quarter. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for next quarter (QTR 2)? Note: Do not round intermediate calculations. Complete this que;stion by entering your answers in the tabs below. Determine the total costs per billable hour for QTR 1 and QTR 2. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places

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