Compute the price per hour of direct labor

Assignment Help Managerial Accounting
Reference no: EM132418643

Labor rate, including fringe benefits$47per labor hourAnnual labor hours 11,100hoursAnnual materials (parts) purchases$2,110,000 Annual overhead costs:   Materials purchasing, handling, and storage$422,000 Other overhead (depreciation, insurance, taxes, rent)$177,600 Target profit margin (on both labor and materials) 30%

1. Compute the price (rate) per hour of direct labor.

2. Compute the materials markup (in %).

3. What price should the company quote for a job requiring five labor hours and $690 in parts?

Questions To Answer

1. Total labor rate per hour

2. Materials markup

3. Total price quote

Reference no: EM132418643

Questions Cloud

Run a complete variance analysis for cogs : Based on the information given, run a complete variance analysis for COGS by indicating variance conditions for each of the COGS variance components.
Run a complete variance analysis for revenue : Run a complete variance analysis for revenue by indicating variance conditions for each components.
Alternative methods of joint costs allocation : Pacific Lumber processes lumber products for sale to lumber wholesalers. Its most popular line is oak products. Oak tree growers sell Pacific Lumber whole trees
What types of companies use job order costing : What types of companies use job order costing? What types of companies would use process costing?
Compute the price per hour of direct labor : 1. Compute the price (rate) per hour of direct labor. 2. Compute the materials markup (in %).
LUBS5011M - Applied Finance Assignment : LUBS5011M - Applied Finance Assignment Help and Solution, University of Leeds, UK. Calculate simple return for both stocks
What time does simmons arrive home : What time does Simmons arrive home? What is the value-added ratio? Round your percent to one decimal place.
Discuss the barriers in procurement of mega projects : Discuss the barriers in procurement of mega projects globally and particularly in Oman the Critical Success Factors(CSFs) in the procurement process for mega
Report on procurement of mega projects : Construction Procurement Assignment - Report on procurement of mega projects - Critical Success Factors(CSFs) in the procurement process for mega projects

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Entries for issuing installment note transactions

Entries for issuing installment note transactions - Journalize the entries to record the transactions

  How the unitarist and pluralist approaches to conflict

Describe how the Unitarist and Pluralist approaches to conflict would explain the positions of (a) management and (b) unions in the Schweppes dispute. Identify which one of the approaches provides the better explanation. Explain how you reached th..

  There is a company called walmart and it deals with

there is a company called walmart and it deals with machining work that is conventional. a variety of machines are used

  What is the current yield

You paid $852 for a corporate bond that has a 10.85% coupon rate. What is the current yield?

  What is the firms current receivables balance

What is the firm's current receivables balance? What would be the firm's new receivables balance if Milwaukee Surgical toughened up on its collection policy, with the result that all non-discount customers paid on the 30th day?

  Cost per equivalent unit for materials

The ending inventory was 80% complete with respect to materials and 20% complete with respect to conversion costs - cost per equivalent unit for materials for the month in the first processing department is closest to

  Prepare the 2013 form 1040 and all other required federal

prepare the 2013 form 1040 and all other required federal forms and schedules for brett simons. the returns should be

  Question on segment reporting

Slatter Corp operates primarily in the United States. However, few years ago, it opened plan in Spain to produce merchandise to sell there. This foreign operation has been so successful that throughout the past 24 months the company started a manu..

  Prepare journal entries for these transactions

Johnson Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred

  Direct labor and overhead are added evenly

Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process.

  Prepare the production budget for product line

Diane Buswell is preparing the 2020 budget for one of Current Designs' rotomolded kayaks. Extensive meetings with members of the sales department

  Examples of leaders that have shown good ethical traits

Who are examples of leaders that have shown good ethical traits and where can i find information about them?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd