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Category > Accounting Posted 18 Aug 2017 My Price 13.00

Electronic Repair Shop

Problem 22-3A (Part Level Submission)

 

JoseAc€?cs Electronic Repair Shop has budgeted the following time and material for 2014.

 

JoseAc€?cs Electronic Repair Shop
Budgeted Costs for the Year 2014
    Time Charges   Material Loading Charges  
Shop employeesAc€?c wages and benefits   $108,000       -    
Parts managerAc€?cs salary and benefits   -       $25,400    
Office employeeAc€?cs salary and benefits   23,500       13,600    
Overhead (supplies, depreciation, advertising, utilities)   26,000       16,000    
Total budgeted costs   $157,500       $55,000    

 


JoseAc€?cs budgets 5,000 hours of repair time in 2014 and will bill a profit of $5 per labor hour along with a 30% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000.
   On January 5, 2014, JoseAc€?cs is asked to submit a price estimate to fix a 72-inch flat-screen TV. JoseAc€?cs estimates that this job will consume 5 hours of labor and $200 in parts.

 

Compute the labor rate for JoseAc€?cs Electronic Repair Shop for the year 2014. (Round answer to 2 decimal places, e.g. 10.50.)

 

Labour rate   $Image for Problem 22-3A (Part Level Submission) Jose?s Electronic Repair Shop has budgeted the following time and materi per hour

 

 

Show transcribed image text Problem 22-3A (Part Level Submission) Jose?s Electronic Repair Shop has budgeted the following time and material for 2014. Jose?s budgets 5,000 hours of repair time in 2014 and will bill a profit of $5 per labor hour along with a 30% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000. On January 5, 2014, Jose?s is asked to submit a price estimate to fix a 72-inch flat-screen TV. Jose?s estimates that this job will consume 5 hours of labor and $200 in parts. Compute the labor rate for Jose?s Electronic Repair Shop for the year 2014. (Round answer to 2 decimal places, e.g. 10.50.)

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Maurice Tutor
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Status NEW Posted 18 Aug 2017 05:08 PM My Price 13.00

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