Orange Remodeling Service specializes in renovating older homes. Last week the company was asked to bid on
Question:
Orange uses an overhead markup percentage for materials (50 percent) and for labor (60 percent). Those markups cover all operating costs. In addition, Orange expects to make at least a 30 percent profit on all jobs. Compute the price that Orange should quote for the job.
Transcribed Image Text:
Materials Labor Lumber Nails/bolts Paint Glass Doors Hardware Supplies Total 5,000 200 1,800 3,000 500 500 1,000 12,000 Carpenter Floor specialist Painter Supervisor Helpers Total $ 4,000 2,000 2,000 1,000 3,000 $12,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
The price quoted should be computed as follow...View the full answer
Answered By
Shameen Tahir
The following are details of my Areas of Effectiveness. The following are details of my Areas of Effectiveness English Language Proficiency, Organization Behavior , consumer Behavior and Marketing, Communication, Applied Statistics, Research Methods , Cognitive & Affective Processes, Cognitive & Affective Processes, Data Analysis in Research, Human Resources Management ,Research Project,
Social Psychology, Personality Psychology, Introduction to Applied Areas of Psychology,
Behavioral Neurosdence , Historical and Contemporary Issues in Psychology, Measurement in Psychology, experimental Psychology,
Business Ethics Business Ethics An introduction to business studies Organization & Management Legal Environment of Business Information Systems in Organizations Operations Management Global Business Policies Industrial Organization Business Strategy Information Management and Technology Company Structure and Organizational Management Accounting & Auditing Financial Accounting Managerial Accounting Accounting for strategy implementation Financial accounting Introduction to bookkeeping and accounting Marketing Marketing Management Professional Development Strategies Business Communications Business planning Commerce & Technology Human resource management General Management Conflict management Leadership Organizational Leadership Supply Chain Management Law Corporate Strategy Creative Writing Analytical Reading & Writing Other Expertise Risk Management Entrepreneurship Management science Organizational behavior Project management Financial Analysis, Research & Companies Valuation And any kind of Excel Queries.
4.70+
16+ Reviews
34+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Susan V. Crosson, Belverd E. Needles
Question Posted:
Students also viewed these Managerial Accounting questions
-
Cruzs Home Remodeling Service specializes in refurbishing older homes. Last week Cruz was asked to bid on a remodeling job for the towns mayor. His list of materials and labor needed to complete the...
-
Aaron Hersch is a real estate developer who specializes in residential apartments. A complex of 20 run-down apartments has recently come on the market for $332,500. Hersch predicts that after...
-
1. How many of the five sources of power is Mark Zuckerberg using? Explain. 2. Which of the eight influence tactics is Zuckerberg using? 3. Which different leadership traits and styles does...
-
Determine the void ratio of a soil if its bulk density is 2.06 g/cc and it has a moisture content of 24 percent. The specific gravity of the soil particles is 2.75. Also, determine its dry density...
-
Ron Booth, the CEO for Sunders Manufacturing, was wondering which of two pollution control systems he should choose. The firms current production process produces both a gaseous and a liquid residue....
-
The manufacturer of Boston and Vermont asphalt shingles provides its customers with a 20 year warranty on most of its products. To determine whether a shingle will last as long as the warranty...
-
What are the two categories of data mining and knowledge discovery software?
-
The following balances were taken from the books of Parnevik Corp. on December 31, 2012. Assume the total effective tax rate on all items is 34%.InstructionsPrepare a multiple-step income statement;...
-
Q. In order to attain economic progress, humans use the natural resources of the planet. Nature is fashioned into products for human consumption. This economic activity is needed to create jobs and...
-
Suppose 150 shoppers at an upscale mall are interviewed and one of the questions asked is the household income. Study the Minitab histogram of the following data and discuss what can be learned about...
-
Watt Car Repair specializes in repairing electric cars. The company uses a 60 percent markup rate on parts to cover parts-related overhead costs and profit margin. It uses a 200 percent markup rate...
-
Lovebug Company has determined that its new automotive hood screen would gain widespread customer acceptance if the company could price it at or under $30. Anticipated labor hours and costs for each...
-
Intel Corporation reported the following in its 2012 10-K report. Required a. What did Intel expense for share-based compensation for 2012? How many options did Intel grant in 2012? Compute the fair...
-
Review the basic requirements for a valid contract listed at the beginning of this chapter. Now consider the relationship entered into when a student enrolls in a college or university. 1. One group...
-
In the economy of Popania in 2014, total Popanian purchases of assets in the rest of the world equaled $300 billion, purchases of Popanian assets by the rest of the world equaled $400 billion, and...
-
No one likes doing chores. In happiness surveys, housework is ranked down there with commuting as activities that people enjoy the least. Maybe thats why figuring out who does which chores usually...
-
At least six months before the Summer Olympic Games in Atlanta, Georgia, a group made up of Stafford Fontenot, Steve Turner, Mike Montelaro, Joe Sokol, and Doug Brinsmade agreed to sell Cajun food at...
-
Blueway Pharmacy and Redway Pharmacy commonly sell one another prescription drug products when one or the other is out of stock. They also sell prescription drug products to a local physician for his...
-
The following Trueblood case is recommended for use with this chapter. The case provides an excellent opportunity for class discussion, group projects, and writing assignments. The case, along with...
-
Which of the followingcarbocations is the least stable? CH3CH2 . CH3CHCH3 CH3 I . CH3C0 T CH3 IV. V. CH3 CH3CCH2 CH3
-
Whats all the fuss about managers needing to focus on activities instead of costs? demanded Sam Edwards, the controller of Tyme Flies. The bottom line is all that matters, and our companys current...
-
Home Health Care, LLP, incurred the following service-related activity costs for the month. Prepare an analysis of the costs of conformance by identifying the prevention costs and appraisal costs,...
-
Home Health Care, LLP, incurred the following service-related activity costs for the month. Prepare an analysis of the costs of nonconformance by identifying the internal failure costs and external...
-
35 +3 = = 5 22 12 20 Question is: 5 times what gives you 20 or 20 divided by 5 is 4.6 24 = = 11 44 Or instead of building up; we can reduce down to lowest terms. (I don't like this vocabul confusing...
-
5 Key Learnings and Most Surprising Insight - What were your 5 key learnings from this workshop? - What was your most surprising insight from the Customer Journey Mapping workshop? Creating a New...
-
When you prepare a PowerPoint presentation, do you like to make a presentation kind of a clean fact-based narrative or tend to the story telling and use emotionally charged events that may provoke a...
Study smarter with the SolutionInn App