Assume that overhead is charged on a flat rate basis. Each member of the project...
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Accounting
Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be the direct cost of labor for an employee, given that she is assigned to the project for 120 hours at $10.50?
Is this correct?
Overhead charge = $300/week = 300 x 3 weeks = $900
Hours assigned = 120
Hourly rate = $10.50
Therefore,
120(hours) x $10.50(hourly rate) + $900(overhead costs) = $2160
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