Gator Car Repair specializes in repairing hybrid cars. The company uses a 70 percent markup rate on
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Gator Car Repair specializes in repairing hybrid cars. The company uses a 70 percent markup rate on parts to cover parts-related overhead costs and profit margin. It uses a 100 percent markup rate on labor to cover labor-related overhead costs and profit margin. Compute the bill for a recent job that used the following parts and labor:
Material and repair parts used $550.
Labor used 4 hours at $40 per hour.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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