Chapter 23 #9

References Check my wo Exercise 23-15 Time and materials pricing A1 HH Auto Repair reports the following information for the coming year. Labor rate, including fringe benefits 5 43 per labor hour Annual labor hours 10,700 hours Annual materials (parts) purchases $2,070,000 Annual overhead costs: Materials purchasing, handling, and storage 5 289,800 Other overhead (depreciation, insurance, taxes, rent) 5 171,200 Target profit margin (on both labor and materials) 30 % 1. Compute the price (rate) per hour of direct labor. (Round your answer to 2 decimal places.) 2. Compute the materials markup (in 36). 3. What price should the company quote for a job requiring ve labor hours and $650 in parts? (Round your answer to 2 decimal places.) n-. a Materials markup -l