Question
Riverbeds Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Charges Material Loading Charges Restorers' wages
Riverbeds Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.
Time Charges | Material Loading Charges | ||||||||
---|---|---|---|---|---|---|---|---|---|
Restorers' wages and fringe benefits | $292,560 | ||||||||
Purchasing agent's salary and fringe benefits | $71,550 | ||||||||
Administrative salaries and fringe benefits | 63,600 | 21,942 | |||||||
Other overhead costs | 25,440 | 66,780 | |||||||
Total budgeted costs | $381,600 | $160,272 |
The company anticipated that the restorers would work a total of 12,720 hours this year. Expected parts and materials were $1,335,600. 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%.
Determine the total price of labor and materials on a job that was completed after the fire that required 150 hours of labor and $63,600 in parts and materials.
Total price | $enter the total price in dollars |
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