Project User Budget vs Cost?

I'm starting to look at Projects for our client work. I have Projects Integrated with CRM & Books and have 2 questions.

Should a Project Budget be set as the expected cost of the project or the expected invoice total for the client? (for example, we estimate it will cost $10,000 to do the project but we will invoice $15,000)
When integrated into Books, the project user rate is used for invoicing, which means I need to set the project user rate to their billable rate for the project. Where do I set the project users' cost rate so I can determine project profitability?

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