80.2K

Verified Solution

Link Copied!

Question 9 View Policies Current Attempt in Progress Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Material Time Loading Charges Charges Labor wages (5900 hours) $237770 Supervisor's salary $61000 Clerical and accountant wages 63130 4000 Irrigation supplies manager 41000 Overhead 54280 22050 Total $355180 $128050 Waterways has budgeted for 5900 labor hours. It desires a $13 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in the coming year will be $650000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $ per hour e Textbook and Media Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge e Textbook and Media Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 490 hours of labor and $82000 of materials. Compute the total estimated bid for the parkway project. (Round answer to O decimal places, e.g. 5,275.) Total estimated bid for the parkway project $ e Textbook and Media

Answer & Explanation Solved by verified expert

See Answer