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1. calculate profit margin per hour on labor 2. calculate profit margin on materials 3. determine the total price of labor and materials on a

1. calculate profit margin per hour on labor
2. calculate profit margin on materials
3. determine the total price of labor and materials on a job that was completed after the fire that required 160 hours of labor and $59,000 in parts and materials.
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Slossom's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows: The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1.200,000 In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor ratewas $60.00 and that the material loading charge was 83.80%

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