Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance.
| Time Charges | Material Loading Charges | |||||||
|---|---|---|---|---|---|---|---|---|
| Technicians' wages and benefits | $237,000 | - | ||||||
| Parts manager's salary and benefits | - | $39,100 | ||||||
| Office employee's salary and benefits | 71,100 | 8,900 | ||||||
| Other overhead | 39,500 | 19,200 | ||||||
| Total budgeted costs | $347,600 | $67,200 | ||||||
The company desires a $34 profit margin per hour of labor and a 21.00% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $384,000.
(a)
Compute the rate charged per hour of labor.
| Labor rate | $enter the rate charged per hour of labor in dollars. | per hour |
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.