The following data are available for ABC Repair Shop purchasing and materials management for 2016:...
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Accounting
The following data are available for ABC Repair Shop purchasing and materials management for 2016:
Purchasing manager wages $ 200,000
Fringe benefits 50,000
Overhead 80,000
Budgeted Material purchases $300,000
The desired profit margin is $10 per labour hour. It is estimated that 4,000 labour hours will be worked in 2016. The company wants to make a 15% profit on material purchases. Calculate the material loading rate.
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