Managerial Accounting

Required information [The following information applies to the questions displayed below] Refer to the following data for Sydney Sailing Supplies Exhibit 15-7 Time and Material Pricing Sydney Sailing Supplies-Excel Sign in HOME INSERT PAGE LAYOUT FORMULASDATA REVEW VIEW SYDNEY SAILING SUPPLIES Price Quotation 2 Yacht Division: Repair Department 4 5 Time charges 200 hours Labor time x Rate Total x S 45 per hour $ 9,000 8,000 320 $ 8,320 9 Material charges 10 Cost of materials for job +Charge for material handling and storage Total 12 13 Total price of job 9,000 8,320 $17,320 Time Material Total 15 16 17 "Charge for material handling and storage 18 ($8,000 material cost)x($.04 per dollar of material cost) $320 19 Price Quotation 145% Suppose the Repair Department of Sydney Sailing Supplies adds a markup of 5 percent on the material charges of a job (including the cost of material handling and storage) 2. Compute the new price to be quoted on the yacht refurbishment. New price