Question: i need help to do the following : 1. Determine the profit margin per hour on labor. 2. Determine the profit margin on materials. Culver's
1. Determine the profit margin per hour on labor.
2. Determine the profit margin on materials.
Culver's Classic Cars restores classic automobiles to showroom status. Eudgeted data for the current year are as foliows: The company anticipated that the restorers would work a total of 13,920 bours this year. Expected parts and materials were $1,461,600 In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%
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