Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CALCULATOR NET Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020

image text in transcribed
CALCULATOR NET Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Material Loading Charges Charges Shop employees' wages and benefits $109,200 Parts manager's salary and benefits $25,400 Office employee's salary and benefits 19,760 13,360 Overhead (supplies, depreciation, advertising, utilities) 27,040 16,320 Total budgeted costs $156,000 $55,000 Sutton's budgets 5,200 hours of repair time in 2020 and will bill a profit of $12 per labor hour along with a 24% profit markup on the voice cost of parts. The estimated invoke cost for parts to be used is $102,000. On January 5, 2020, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 9 hours of labor and $300 in perts Compute the labor rate for Sutton's Electronic Repair Shop for the year 2020. (Hound answer to 2 decimal aces, n.9. 10.50) Labour rate per hour Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020, Material loading percentage Calculate the time and material price quotation for fixing the flat-screen TV. Total price of labor and material Clipart et Chow Worl for this mesingan ShowWir MacBook Air

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Executive Roadmap To Fraud Prevention And Internal Control Creating A Culture Of Compliance

Authors: Joel T. Bartow, Martin T. Biegelman

2nd Edition

1118004582, 9781118004586

More Books

Students also viewed these Accounting questions