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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 company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,278,000 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 $70 and that the material loading charge was 84%. (a) 6. Your answer is incorrect. Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, eg. 10.25 and final answer to 0 decimal places, eg 10. Profit margin on labor per hour

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