Jose’s Electronic Repair Shop has budgeted the following time an

Jose€™s Electronic Repair Shop has budgeted the following time and material for 2014.

Jose€™s Electronic Repair Shop has budgeted the following time an

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.

Instructions
(a) Compute the labor rate for Jose€™s Electronic Repair Shop for the year 2014.
(b) Compute the material loading charge percentage for Jose€™s Electronic Repair Shop for the year 2014.
(c) Prepare a time-and-material price quotation for fixing the fl at-screenTV.