Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be
Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be the direct cost of labor for an employee, given that she is assigned to the project for 120 hours at $10.50?
Is this correct?
Overhead charge = $300/week = 300 x 3 weeks = $900
Hours assigned = 120
Hourly rate = $10.50
Therefore,
120(hours) x $10.50(hourly rate) + $900(overhead costs) = $2160
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started