Question
Whispering Windss Electronic Repair Shop has budgeted the following time and material for 2022. Whispering Windss ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022
Whispering Windss Electronic Repair Shop has budgeted the following time and material for 2022.
Whispering Windss ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022 | ||||||||
---|---|---|---|---|---|---|---|---|
Time Charges | Material Loading Charges | |||||||
Shop employees wages and benefits | $117,600 | |||||||
Parts managers salary and benefits | $28,448 | |||||||
Office employees salary and benefits | 33,600 | 15,232 | ||||||
Overhead (supplies, depreciation, advertising, utilities) | 39,200 | 17,920 | ||||||
Total budgeted costs | $190,400 | $61,600 |
Whispering Windss budgets 5,600 hours of repair time in 2022 and will bill a profit of $10 per labor hour along with a 25% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $112,000. On January 5, 2022, Whispering Windss is asked to submit a price estimate to fix a 72-inch flat-screen TV. Whispering Windss estimates that this job will consume 4hours of labor and $220 in parts.
(a)
Compute the labor rate for Whispering Windss Electronic Repair Shop for the year 2022. (Round answer to 0 decimal places, e.g. 10.)
Labor rate | $enter the labour rate per hour in dollars rounded to 0 decimal places | per hour |
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