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Crane Painting Service has budgeted the following time and material for 2022: BUDGETED COSTS FOR 2022 Time Material Charges Charges Painters' wages and benefits
Crane Painting Service has budgeted the following time and material for 2022: BUDGETED COSTS FOR 2022 Time Material Charges Charges Painters' wages and benefits $29,520 Service manager's salary and benefits $18,860 Office employee's salary and benefits 9,840 2,460 Cost of paint 41,000 Overhead (supplies, utilities, etc.) 13,120 6,970 Total budgeted costs $52,480 $69,290 Crane budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Crane is asked to prepare a price estimate to paint a small building. Crane estimates that this job will take 12 labor hours and $410.00 in paint. Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate Compute the material loading charge rate for 2022. Material loading charge % do Prepare a time-and-material price estimate for painting the building. (Round answers to 2 decimal places, e.g. 52.75.)
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