Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016...
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Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects for 2016 Material Time Loading Charges Charges Labor wages (5,750 hours) $240,000 Supervisor's salary $ 60,000 Clerical and accountant wages 60,000 4,000 Irrigation supplies manager 40,000 Overhead 53,950 21,000 Total $353,950 $125,000 Waterways has budgeted for 5,750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $1 per hour Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge % Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.) Total estimated bid for the parkway project $ Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects for 2016 Material Time Loading Charges Charges Labor wages (5,750 hours) $240,000 Supervisor's salary $ 60,000 Clerical and accountant wages 60,000 4,000 Irrigation supplies manager 40,000 Overhead 53,950 21,000 Total $353,950 $125,000 Waterways has budgeted for 5,750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $1 per hour Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge % Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.) Total estimated bid for the parkway project $ Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects for 2016 Material Time Loading Charges Charges Labor wages (5,750 hours) $240,000 Supervisor's salary $ 60,000 Clerical and accountant wages 60,000 4,000 Irrigation supplies manager 40,000 Overhead 53,950 21,000 Total $353,950 $125,000 Waterways has budgeted for 5,750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $1 per hour Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge % Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.) Total estimated bid for the parkway project $ Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects for 2016 Material Time Loading Charges Charges Labor wages (5,750 hours) $240,000 Supervisor's salary $ 60,000 Clerical and accountant wages 60,000 4,000 Irrigation supplies manager 40,000 Overhead 53,950 21,000 Total $353,950 $125,000 Waterways has budgeted for 5,750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $1 per hour Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge % Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.) Total estimated bid for the parkway project $
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DETAILS AMOUNT TOTAL LABOUR CHARGES 353950 BUDEGETED LABOUR HOUR 5750 LABOUR RATE ... View the full answer
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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