Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance Material Time Loading Charges
Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance Material Time Loading Charges Charges Technicians' wages and benefits $175,000 Parts manager's salary and benefits $39,000 Office employee's salary and benefits 28,000 7,080 Other overhead Total budgeted costs 7,000 $210,000 19.200 $65,280 The company desires a $30 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7.000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $384,000. (a) Compute the rate charged per hour of labor. (b) Labor rate $ eTextbook and Media 60 per hour Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%) Material loading percentage Attempts: 1 of 5 used
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