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Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year...

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Accounting

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Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. The compary anticipated that the restorers would work a total of 14,800 hours this year. Expected parts and materials were $1,275,000 In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $68 and that the materialloading charge was 8210 . Determine the profit margin on materials. (Round intermediate calculations to 2 decimal places, eg. 10.25% and final answer to 0 decimal places, eg. 10\%) Profit margin on materials % eTextbook and Media Assistance Used eTextbook Attempts: 0 of 3 used

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