Compute the labor rate for Suttons Electronic Repair Shop for the year 2022

A. Labor rate per hour _________________________________

Sutton's Electronic Repair Shop has budgeted the following time and material for 2022. Sutton's ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022 Time Charges Material Loading Charges Shop employee's wages and benefits $ 108,000 Parts manager's salary and benefits $ 25,400 Office employees' salary and benefits 23,500 13,600 Overhead (supplies, depreciation, advertising, utilities) 26,000 16,000 Total budgeted costs $ 157,500 $ 55,000 Sutton's budgets 5.000 hours of repair time in 2022 and will bill a profit of $ 10 per labor hour along with a 25% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $ 100,000. On January 5, 2022, 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 4 hours of labor and $ 200 in parts. (c) - Your answer is partially correct. Prepare a time-and-material price quotation for fixing the flat-screen TV. Sutton'S ELECTRONIC REPAIR SHOP Time and Material Price Quotation For the Month Ended January 5.2022 Job: Fix big screen TV set Labor charges 249 Material charges Cost of parts and materials $ 200 Material loading charge 160 360 Total price of labor and material 609