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TDM Temps supplies contract student workers to local businesses. For the 2017/2018 academic year, TDM Temps has budgeted to supply 84,000 hours of student labor. Its variable costs are $13 per hour, and its fixed costs are $168,000. Tas K. Master, student labor coordinator, has proposed a cost-plus approach for pricing student labor at full cost plus 20%.
Information regarding demand levels at different prices is given below.
Price per hour
Demand (hrs)
$ 16
124,000
$ 17
104,000
$ 18
84,000
$ 19
74,000
$ 20
61,000
TDM Temps can meet any of these demand levels. Fixed costs will remain unchanged for all the demand levels.
Required
1- Calculate the price per hour that TDM Temps should charge based on Master's proposal.
2- Calculate the price per hour that TDM Temps should charge to maximize operating income.
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