Question Part C

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Question 2 of 4 0.6/1 View Policies Show Attempt History Current Attempt in Progress Cullumber's Electronic Repair Shop has budgeted the following time and material for 2022: Time Charges Material Charges Shop employees' wages and benefits $109,270 $0 Parts manager's salary and benefits 22.400 Office employee's salary and benefits 21,070 14,400 Invoice cost of parts used 100,000 Overhead (supplies, amortization, advertising, utilities) 29.400 17.000 Total budgeted costs $159,740 $153,800 Cullumber's budgets 4,900 hours of repair time in 2022 and will bill a profit of $6 per labour hour along with a 24% profit markup on the invoice cost of parts. On January 5, 2022, Cullumber's is asked to submit a price estimate to fix a 72-inch big-screen TV. Cullumber's estimates that this job will consume 23 hours of labour and $420 in parts and materials. (a) Your answer is correct. Calculate the labour rate for Cullumber's Electronic Repair Shop for the year 2022. (Round answer to 2 decimal places, e.g. 15.25.) Labour rate $ 38.60 eTextbook and Media Solution Attempts: 2 of 2 used Using multiple attempts has impacted your score. 10% score reduction after attempt 1 (b) Your answer is correct. Calculate the material loading charge percentage for Cullumber's Electronic Repair Shop for the year 2022. (Round answer to 2 decimal places, e.g. 25.12) Material loading charge 77 80 eTextbook and Media Solution Attempts: 2 of 2 used Using multiple attempts has impacted your score. 10% score reduction after attempt 1 (c) Prepare a time-and-material price quotation for fixing the big-screen TV. (Round answers to 2 decimal places, e.g. 15.25.) CULLUMBER'S ELECTRONIC REPAIR SHOP Time-and-Material Price Quotation January 5, 202 $ Totel for labour and material Attempts: 0 of 2 used Submit Answer Material loading charge Labour Imuien cast Material charges