Compute the total estimated bill

Assignment Help Financial Accounting
Reference no: EM132781511

Question - Silver Spoon Service repairs commercial food preparation equipment. The following budgeted cost data is available for 2019: Time Charges Material Charges $500,000Technician's wages & benefits Parts manager's salary & benefits Office managers salary & benefits Other overhead Total budgeted costs $112,000 $48,000 $660,000 $72,000 $18,000 $135,000 $225,000 Silver Spoon has budgeted for 10,000 hours of technician time during the coming year. It desires a $54 profit margin per hour of labor and a 40% profit margin on parts. Silver Spoon estimates the total invoice cost of parts and materials in 2019 will be $ 500,000.

Instructions -

1. Compute the rate charged per hour of labor.

2. Compute the material loading charge.

3. Silver Spoon has received a request from Lime Corporation for an estimate to repair a commercial fryer. The company estimates that it would take 20 hours of labor and $8,000 of parts. Compute the total estimated bill.

Reference no: EM132781511

Questions Cloud

What was the accounts receivable turnover ratio : Accounts Receivable, Net at Dec31 2010(a decrease of 4000 during 2010) = 8000. What was the accounts receivable turnover ratio
Conventional models of economics and power distribution : This book explores the negative effects of corporate power on society and challenges the state of conventional models of economics and power distribution.
How you would evaluate the uncertainty in the project : Select a project you may work on and discuss in 250 words how you would evaluate the uncertainty in the project and provide an example of the uncertainty.
Supply chain strategy : Write paper in which you explain your supply chain strategy to include the use of global suppliers.
Compute the total estimated bill : The company estimates that it would take 20 hours of labor and $8,000 of parts. Compute the total estimated bill
Management at happy valley hospital retain : How should the management at Happy Valley Hospital retain their existing staff members?
Discuss the pros and cons of cpm scheduling : Discuss in 250 words the pros and cons of CPM scheduling. In your response discuss how to maximize the pros of CPM scheduling and how to minimize the cons.
How much is the sales tax : Question - If you pay for $25.00 for purchase which includes 11% sales tax, how much is the sales tax
Explain differences between the cpm and integrated cost : The CPM schedule is an important tool for evaluating integrated cost-schedule risk. This type of analysis is important for evaluating the critical review.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Store retailers within their assigned geographic territories

Ian’s place sells pet supplies to dog and cat owners. To sell its products, the marketing department requires sales personnel to call on the pet store retailers within their assigned geographic territories. Identify the resources, events, and agents ..

  Calculation of payment made to vendors

Calculation of payment made to vendors and Compute the following (and show your work to earn partial credit in the event your responses are incorrect):

  Find impairment of the non-financial assets

In a annual report where do look if want to analyse if its meet the disclosure requirement for impairment of the non-financial assets ? which statement ?

  Compute garys tax due or refund due

During 2016, Gary earned $57,000 as an executive. Gary, who is single, supported his half sister, who lives in a nursing home. Gary received the following interest: $400 on City of Los Angeles bonds, $200 on a money market account, and $2,100 on a lo..

  Amount of the unamortized bond discount

What should be the amount of the unamortized bond discount on April 1, 2018 relating to the bonds converted? (rounded to the nearest dollar)

  What will the general ledger entries be for the credit loss

At Summerhill Traders, What will the general ledger entries be for the credit losses recovered from Miss T Luna's insolvent estate?

  Evaluate the financial health of a business

How do analyse financial statements to evaluate the financial health of a business? What are key things to look at if have multi-year financial statements

  Determine the interest expenses and lease liability

Complete the amortisation schedule to determine the interest expenses and lease liability. Round all answers to the nearest dollar.

  What is superiors stockholders equity

The Superior Company has provided the following account balances: Cash $152,000; Short-term investments $18,000. Requirement: What is Superior's stockholders' equity?

  Total payroll for the last week of the year

January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Since it is a new fiscal year, all $675,000 in salaries is subject to unemployment compensation taxes.

  Estimate profit or loss if you attempt triangular arbitrage

Estimate your profit or loss if you would attempt triangular arbitrage by converting your dollars to euros, and then convert euros to Canadian dollars and then convert Canadian dollars to U.S. dollars.

  Question smith company has the subsequent results for its

question smith company has the subsequent results for its first year of operations ending 123112 book income 400000 the

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