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Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Loading Charges Time Charges Restorers' wages
Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Loading Charges Time Charges Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs $314,001 59,075 20,016 $393,092 $75,709 20,200 76,551 $172,460 The company anticipated that the restorers would work a total of 13,900 hours this year. Expected parts and materials were $1,257,000. 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 $69.28 and that the material loading charge was 83.19%. Determine the profit margin per hour on labor. (Round answer to 2 decimal places, e.g. 10.50.) Profit margin on labor 41 per hour s Determine the profit margin on materials. (Round answer to 2 decimal places, e.g. 10.50.) Profit margin on materials Determine the total price of labor and materials on a job that was completed ater the ire that required 153 hours of anaand materials. (Round answer to 0 decimal places, e.g. 125.) 56,200 in pats ind Total price
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