Friendly Car Repair performs routine maintenance on rental vehicles.

Recently, the local auto rental business had its fleet serviced. Friendly uses the time and materials pricing system and data from the previous year to compute markup percentages for overhead related to parts and materials and overhead related to direct labor. It adds markups of 100 percent to the cost of materials and parts and 120 percent to the cost of direct labor to cover overhead and profit. The following materials, parts, and direct labor are needed to repair the rental fleet:

Required Prepare a complete billing for this job. Include itemized amounts for each type of materials, parts, and direct labor. Follow the time and materials pricing approach, and show the total price for the job.

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Quantity Materials and parts 24 Spark plugs Unit Price Hours Hourly Rate Direct labor $ 0.50 38 Mechanic hours $28.20 50 Oil, quarts 2.50 61 Assistant mechanic hours 14.00 12 Hoses 11.20 1 Sun visor 13.50 36 Coolant, quarts 6.50 4 Clamps 5.50 5 Emergency kits 12.40 40 Washer fluid 1.25 4 Tires 300.00