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CALCULATOR PRINTER VERSION Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. BACK NEXT Time Charges
CALCULATOR PRINTER VERSION Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. BACK NEXT Time Charges $237,300 Material Loading Charges Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs $68,560 20,200 45,200 11,300 $293,800 76,080 $164,840 Total budgeted costs The company anticipated that the restorers would work a total of 11,300 hours this year. Expected parts and materials were $1,268,000. 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 rate was $69 and that the material loading charge was 84%. Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, e.g. 10.25 and final answer to o decimal places, e.g. 10.) Profit margin on labor per hour $ LINK TO TEXT Determine the profit margin on materials. (Round intermediate calculations to 2 decimal places, e.g. 10.25% and final answer to O decimal places, e.g. 10%.) Profit margin on materials % LINK TO TEXT Determine the total price of labor and materials on a job that was completed after the fire that required 159 hours of labor and $56,600 in parts and materials
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