Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help URGENT!! Cullumber's Custom Electronics (CCE) sells and installs complete security, computer, audio, and video systems for homes. On newly constructed homes, it provides
Please help URGENT!!
Cullumber's Custom Electronics (CCE) sells and installs complete security, computer, audio, and video systems for homes. On newly constructed homes, it provides bids using time-and-material pricing. The following budgeted cost data are available: The company has budgeted for 5,820 hours of technician time during the coming year. It wants a $33 profit margin per hour of labour and a 100% profit on parts. It estimates the total invoice cost of parts and materials in 2022 will be $719,000. (a) Calculate the rate charged per hour of labour. (Round answer to 2 decimal places, e.g. 15.25.) Ivanhoe's Klassic Kars restores classic automobiles to showroom status. Budgeted data for the current year are as follows: The company anticipated that the restorers would work a total of 12,000 hours this year and expected that parts and materials would cost $1,209,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labour rate was $67 and that the material loading charge was 94.00%. (a) Determine the profit margin per hour on labour. (Round answer to 2 decimal places, e.g. 5.25.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started