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Need helping breaking all of this info down, as previous questions, need to study for my Cost Accounting finals

Edited the question as a tutor told me the format was confusing, this was what we were given

The 2022 Projected Income Statement for Diamond Consulting & Tutoring follows:

Diamond Consulting & Tutoring Income Statement For the Projected Year 2022

Revenues Consulting Fees $120,000 Tutoring Fees 80,000 Total Projected Revenues $200,000

Direct Costs: Consulting Professional Expenses $70,000 Tutoring Professional Expenses 40,000 Total Direct Cost $110,000

Indirect Costs: Consulting overhead $30,000 Tutoring overhead 20,000 Total Indirect Cost 50,000 Total Direct & Indirect Costs 160,000

Operating Income $ 40,000

Diamond Consulting and Tutoring uses a system with two categories of direct costs and two categories of indirect costs, described above. Costs are apportioned to Jobs on the basis of the two direct costs individually.

Required: 1. Determine the 2022 indirect cost rates for both Consulting Fees & Tutoring Fees categories of the business. 2. Prepare the cost per order system diagram.

Two bids are received. One for consulting identified as Job #101C and one for tutoring identified as Job #101T. Information follows:

Job #101C Consulting Fees Budgeted Rate Per Hours Budgeted Hours Manager $65.00 8 hrs. Senior $40.00 15 hrs. Staff $15.00 30 hrs.

Job #101T Tutoring Fees Budgeted Rate Per Hours Budgeted Hours Teacher $30.00 15 hrs. Assistance $10.00 15 hrs. Supervisor $25.00 5 hrs.

3. Calculate the budgeted cost for each of the Jobs, separately. 4. If the profit level presented in the Income Statement is to be maintained, what should be the bid price individually for Job #101C and Job #101T?

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