Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. Sutton's budgets 5,100 hours of repair time in 2020 and will bill
Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. Sutton's budgets 5,100 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 30\% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $102,000. On January 5, 2020, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 8 hours of labor and $300 in parts. Calculate the time-and-material price quotation for fixing the flat-screen TV. Total price of labor and material
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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