Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR...
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Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) Total budgeted costs Time Charges Material Loading Charges $118,800 Labour rate 20,520 28,080 $167,400 Sutton's budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 21% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $101,000. labor and $300 in parts. On January 5, 2020, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 9 hours $ Compute the labor rate for Sutton's Electronic Repair Shop for the year 2020. (Round answer to 2 decimal places, e.g. 10.50.) per hour $25,400 13,990 20,200 $59,590 Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020. Material loading percentage Calculate the time-and-material price quotation for fixing the flat-screen TV. Total price of labor and material $ Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) Total budgeted costs Time Charges Material Loading Charges $118,800 Labour rate 20,520 28,080 $167,400 Sutton's budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 21% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $101,000. labor and $300 in parts. On January 5, 2020, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 9 hours $ Compute the labor rate for Sutton's Electronic Repair Shop for the year 2020. (Round answer to 2 decimal places, e.g. 10.50.) per hour $25,400 13,990 20,200 $59,590 Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020. Material loading percentage Calculate the time-and-material price quotation for fixing the flat-screen TV. Total price of labor and material $
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1119392132
3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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