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bob homework prob 22-3b

working Papers Ch22-chris peralta - Compatibility Mode - Saved to this PC- Design Layout Referentes Mailings Review View Helo Sans -11 - A A A A - XAD-A- EEL AaBbce AaBb AaBbc AaBbcc AaBbc Emphasis 11 Heading 1 T Heading 2 T Heading 3 11 Heading 4 Font Paragraph Styles P22-3B Amstrong Bike Repair Shop has bodgeted the following time and material for 2017 Armstrong Bike Repair Shop Budgeted Costs for the Year 2017 Time Material Charges Loading Charges Shop employees wages and benefits 536.000 Parts supervisor's salary and benefits $20.000 Office employee's salary and benefits 15.000 10 000 Overhead (supplies, depreciation, advertising, utilities) 19.000 15.000 Total budgeted costs 570.000 $45.000 Armstrong budgets 2 500 hours of repair time in 2017 and will hill a profit of 55 per labor hour along with a 15% profit backup on the invoice cost of parts. The estimated invoice cost for parts to be used is $75,000 On January 5, 2017 Armstrong is asked to submit a price estimate to fix a Superior Mountain bike Armstrong estimates that this job will consume 4 hours of labor and $200 in parts Instructions (e) Compute the labor rate for Armstrong Bike Repair Shop for the year 2017 (b) Compute the material loading charge percentage for Armstrong Bike Repair Shop for the year 2017 (c) Prepare a time and material price quotation for firing the Superior Mountain bike Total Cos! Total Hours Per Hr Chge (a) Computation of Labor Rate Hourly Labor Rate for Repairs: + 2,500 Overhead Costs: 2,500 2.500 + nited States Focus o perch.choperate Compatibilny Mode - Saved to the PC Layou References Malings Review View HA 11 A A Aav ERE. 27 dabber AaBb AaBbc AaBbc AaBbc Emphasis Heading T Heading 2 1 Heading 3 T Heading 4 Font Paragraph 5 Styles Total Cost Total Hours Per H Chee a) Computation of Labor Rater Hourly Labor Rate for Repairs: . 2,500 Overhead Costs: + 2,500 2,500 2,500 2,500 Rate Charged per Hour of Labor (b) Computation of Material Loading Charge Material Ioading Total Invoice Material Loading St-2016 Wycom Wert Fico Soto Foto se Charge Cost, Parts Percentage Focus Statel Schepeals Compatibility Mode - Sered to the P. Referentes Mailis Review View Help 11 SAN ARABE albCct AaBb AaBb MaBbCk AaBbc Emphasis 1 Heading THeading 2 Heading 3 1 Heading Font Paragraph Styles Charge Cost Parts & Materials PA Overhead Costs: Parts Supervisor Salary & Benefits Parts Employee Salary & Benefits + Other Overhead Total Profit Margin Material Loading Percentage 15% (C) Price Quotation for Time & Material Armstrong Bike Repair Shop Time & Material Price Quotation Job: Fix Superior Mountain Bike Labor Charge: Material Charges: Cost of Parts & Materials Material Loading Charge Total Price of Labor & Material Focus O it 99