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Calculate the price for a job

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Reference no: EM132982889

Exercise - Ravine Ltd determines the price of jobs using time and material pricing. Budgeted information relating to this accounting period is as follows:

Labour rate, including on-costs 60

Annual labour hours 15,000

Annual overhead costs:

Material handling and storage 151,680

Other overhead costs 546,000

Annual cost of materials used 1,264,000

Ravine Ltd adds a mark-up of $20 per hour on time charges, while no mark-up is added onto material costs.

Required -

(a) Calculate the price for a job that requires 300 labour hours and $180,000 material cost.

(b) What would be the price of the job if Ravine Ltd also added a 10% mark-up on all material charges?

Reference no: EM132982889

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