FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Please help me 

RCE has just received a request for a bid from Buil Builders on a $1,242,000 new home. The company estimates that it would require 80 hours of labor and $38,200 of parts. Compute the total estimated bill. Total estimated bill
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Transcribed Image Text:RCE has just received a request for a bid from Buil Builders on a $1,242,000 new home. The company estimates that it would require 80 hours of labor and $38,200 of parts. Compute the total estimated bill. Total estimated bill
Rey Custom Electronics (RCE) sells and installs complete security, computer, audio, and video systems for homes. On newly constructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs Labor rate $ Time Charges $166,400 eTextbook and Media 30,080 14,720 $211,200 The company has budgeted for 6,400 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2020 will be $693,000. Material loading percentage Compute the rate charged per hour of labor. (Round answer to 2 decimal places, eg. 10.50) Compute the material loading percentage. Material Loading Charges $34,700 per hour 6,880 41,580 $83,160 %
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Transcribed Image Text:Rey Custom Electronics (RCE) sells and installs complete security, computer, audio, and video systems for homes. On newly constructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs Labor rate $ Time Charges $166,400 eTextbook and Media 30,080 14,720 $211,200 The company has budgeted for 6,400 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2020 will be $693,000. Material loading percentage Compute the rate charged per hour of labor. (Round answer to 2 decimal places, eg. 10.50) Compute the material loading percentage. Material Loading Charges $34,700 per hour 6,880 41,580 $83,160 %
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