Table: budgeted office, utilities, systems, eqipment & travel costs office space (rent): $2,000 (monthly) electricity: $ 600 (monthly) systems: $ 800 (monthly) telecommunications: $ 700 (monthly) equipment (leased): $ 400 (monthly) travel costs: $ 500 (monthly) total costs: $5,000 (monthly) * 12 months = $60,000 (annual) you decide not to pay yourself a salary for the work you do for your company. you estimate that, in addition to your own business, other companies are very likely to hire you to be their ats consultant at a compensation rate of s100 per hour for as many hours as you wish to work. after careful analysis, you decide to assign and allocate costs to jobs by the total number of hours worked and traveled. case requirements: 1. explain why, in costing jobs, total hours worked and traveled is a more suitable cost driver than job visits to customers. 2. which costs you would assign to the jobs as direct costs, and which costs you would allocate to the jobs as indirect costs? 3. estimate the budgeted accounting-oriented costs for jobs al, a2, and bi. 4. estimate the budgeted economic-oriented costs for jobs al, a2, and bi. 5. how would your estimates in requirements 3 and 4 above change if you decide to pay yourself a salary of $100 per hour worked and travelled? 6. which cost estimates would you use for billing your customers and assessing their profitability: estimates based on accounting-oriented costs, or estimates based on economic-oriented costs? 7. in bidding for the jobs, if you decide to price the jobs at a 30% profit margin above total allocated budgeted costs, estimate the expected prices and profits for all jobs based on economic costs. 8. explain why, in the process of pricing jobs and assessing their expected profitability, you often need to rely on budgeted (estimated) figures, to be reconciled later with actual figures. explain your reasoning and calculation in detail.