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Need some help with these questions, thanks! Sheffield's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.
Need some help with these questions, thanks!
Sheffield's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $290,400 Purchasing agent's salary and fringe benefits $74,250 Administrative salaries and fringe benefits 52,800 22,770 Other overhead costs 26,400 83,160 Total budgeted costs $369,600 $180,180 The company anticipated that the restorers would work a total of 13,200 hours this year. Expected parts and materials were $1,386,000. 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 $70.00 and that the material loading charge was 83.00%. (a) 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 hourBramble Company's Small Motor Division manufactures a number of small motors used in household and ofce appliances. The Household Division of Bramble then assembles and packages such items as blenders and juicers. Both divisions are free to buy and sell any oftheir components internally or externally. The following costs relate to small motor LN 233 on a per unit basis. Unit xed cost $ 3 Unit variable cost 10 Unit selling price 32 {a} Assuming that the Small Motor Division has excess capacity, compute the minimum acceptable price for the transfer of small motor LN 233 to the Household Division. (Round answer to 2 decimal places. 6.3. 10.50.} Minimum transfer price $ per unitStep by Step Solution
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