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Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance Time Charges $198,800 Material Loading
Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance Time Charges $198,800 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits ffice employee's salary and benefits Other overhead Total budgeted costs 56,800 7,100 $262,700 $39,800 9,300 27,720 $76,820 The company desires a $35.00 profit margin per hour of labor and a 23.00% profit margin on parts. It has budgeted for 7,100 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $396,000 Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate per hour Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501.) Material loading percentage
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