Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 23 Budgeted data for Mohawk Waste Handling & Disposal Ltd. for the current year are as follows: Technicians' wages and fringe benefits Manager's salary

image text in transcribedimage text in transcribed

Question 23 Budgeted data for Mohawk Waste Handling & Disposal Ltd. for the current year are as follows: Technicians' wages and fringe benefits Manager's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs Waste Waste Processing Handling Charges Charges $181,900 $85,050 61,200 32,400 31,450 55,350 $274,550 $172,800 Mohawk receives waste to be disposed of from various customers, incurring a waste disposal charge that it recovers from its customers on a cost recovery basis. Mohawk also incurs waste processing and waste handling costs related to the initial receiving of the waste and getting it ready for disposal. For waste processing, Mohawk budgets 8,500 hours of work in 2020, and it desires a profit margin of $6.00 per hour of labour. For waste handling, it wants to earn a 20.00% profit based on waste disposal fees. It estimates the total invoice cost for waste disposal charges in 2020 will be $675,000. Waste handling costs are assigned based on a percentage of waste disposal charges. Calculate the rate charged per hour of labour. (Round answer to 2 decimal places, e.g. 15.25.) Rate charged per hour of labour ITNY TO TEYT Determine the markup percentage on waste disposal charges. Include waste handling costs in the analysis. (Round answer to 2 decimal places, e.g. 15.25%.) Markup percentage LINK TO TEXT If Mohawk completes a job that takes 30 hours and incurs waste disposal charges costing $210, what is the invoice price? (Round answer to 2 decimal places, e.g. 15.25.) Invoice prices

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Debra C. Jeter, Paul Chaney

2nd Edition

0471218529, 978-0471218524

More Books

Students also viewed these Accounting questions