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1) Presented below are data relating to labor for Verde Appliance Repair Shop.

The desired profit margin per hour is $15.32. The material loading charge is 60% of invoice cost. Verde estimates that 5,800 labor hours will be worked next year. If Verde repairs a dishwasher that takes 1.2 hours to repair and uses parts of $89.29, compute the bill for the job. (Round answer to 2 decimal places, e.g. 10.50.)

TOTAL COST $________

2) Leno Company makes swimsuits and sells these suits directly to retailers. Although Leno has a variety of suits, it does not make the All-Body suit used by highly skilled swimmers. The market research department believes that a strong market exists for this type of suit. The department indicates that the All-Body suit would sell for approximately $105. Given its experience, Leno believes the All-Body suit would have the following manufacturing costs.

Assume that Leno uses cost-plus pricing, setting the selling price 30% above its costs. What would be the price charged for the All-Body swimsuit? (Round answer to 2 decimal places, e.g. 10.50.) SELLING PRICE $_____________

3) Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance.

The company desires a $38.00 profit margin per hour of labor and a 24.00% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $418,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.)

LABOR RATE $__________ PER HOUR

4) Rap Corporation produces outdoor portable fireplace units. The following per unit cost information is available: direct materials $25, direct labor $28, variable manufacturing overhead $19, fixed manufacturing overhead $21, variable selling and administrative expenses $14, and fixed selling and administrative expenses $13. The company's ROI per unit is $17. Compute Rap Corporations markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 10.50.)

ABSORPTION-COST PRICING MARKUP PERCENTAGE ___________%

Repair-technicians' wages Fringe benefits Overhead $135,720 55,506 86,188 $25 Direct materials Direct labor Manufacturing overhead Total costs 48 $103 Time Charges $260,700 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 55,300 15,800 $331,800 $40,300 10,729 29,260 $80,289 Repair-technicians' wages Fringe benefits Overhead $135,720 55,506 86,188 $25 Direct materials Direct labor Manufacturing overhead Total costs 48 $103 Time Charges $260,700 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 55,300 15,800 $331,800 $40,300 10,729 29,260 $80,289