The following data is available for Chattanooga Spokes 'N Wheels Repair Shop for 2022: Repair technicians' wages $360,000 Fringe benefits Overhead Total 80,000 60,000 $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of parts invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. In March 2022, Spokes 'N Wheels repairs a bicycle that takes two hours to repair and uses parts of $245. The bill for this repair would be Enter the amount to two decimal places. Dollar sign not needed.

The following data is available for Chattanooga Spokes 'N Wheels Repair Shop for 2022: Repair technicians' wages $360,000 Fringe benefits Overhead Total 80,000 60,000 $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of parts invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. In March 2022, Spokes 'N Wheels repairs a bicycle that takes two hours to repair and uses parts of $245. The bill for this repair would be Enter the amount to two decimal places. Dollar sign not needed.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 1CE: The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include:...

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The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include: Fixed costs (salaries, tools): 64,900 per year Variable costs (supplies): 1.35 per maintenance hour Estimated usage by: Actual usage by: Required: 1. Calculate a single charging rate for the Maintenance Department. 2. Use this rate to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year. 3. What if the Assembly Department used 4,000 maintenance hours in the year? How much would have been charged out to the three departments?
The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method, express the companys overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. Predict the overtime wages if 9,000 invoices are processed. Predict the overtime wages if 6,500 invoices are processed. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.
The following data is available for Wheels ‘N Spokes Repair Shop for 2022: Repair technicians’ wages $360,000 Fringe benefits 80,000 Overhead 60,000 Total $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. Wheels ‘N Spokes’ labor charge per hour in 2022would be Group of answer choices $112. $140. $100. $128.
The following data is available for Sheridan Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $410000 90000 $122. $140. $152. $112. 60000 $560000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Sheridan' labor charge per hour in 2022 would be
The following data is available for Chattanooga Spokes 'N Wheels Repair Shop for 2022: Repair technicians' wages $360,000 Fringe benefits Overhead Total 80,000 60,000 $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of parts invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. In March 2022, Spokes 'N Wheels repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be Enter the amount to two decimal places. Dollar sign not needed.
The following data is available for Vaughn Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $380000 70000 60000 $510000 The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Vaughn' labor charge per hour in 2022 would be $102. $110. $124. $136.
The following data related to labor is available for Sunland Repair Shop for 2019: Repair technicians’ wages $280000 Fringe benefits 80000 Overhead 60000 Total $420000 The desired profit margin is $44 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.Sunland’ labor charge per hour in 2019 would be $116. $100. $128. $84.
The following data is available for Sunland Repair Shop for 2022: Repair technicians' wages $380000 Employee benefits 70000 Overhead Total 60000 $72.00. $108.00. $264.00. O $147.00. $510000 The desired profit margin is $45 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In January 2022, Sunland repairs a bicycle that uses parts of $180. Its material loading charge on this repair would be
The following data is available for Swifty Repair Shop for 2019: Repair technicians’ wages $260000 Fringe benefits 75000 Overhead 55000 Total $390000 The desired profit margin is $36 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.In January 2019, Swifty repairs a bicycle that uses parts of $120. Its material loading charge on this repair would be $72. $114. $48. $198.
The following data is available for Coronado Repair Shop for 2019: Repair technicians’ wages $400000 Fringe benefits 70000 Overhead 50000 Total $520000 The desired profit margin is $46 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.In January 2019, Coronado repairs a bicycle that uses parts of $220. Its material loading charge on this repair would be $132. $88. $150. $284.
Presented below are data for an electrical repair shop for next year. Time charge Material loading charge Wages 140,000 Fringe benefits 60,000 Overhead 100,000 The rate charge per hour of labor is $70. The material loading charge is 40% of invoice cost of parts and materials. The shop estimates that 10,000 labor hours will be worked next year and the invoice cost of expected parts and materials was 2,000,000. $250,000 100,000 50,000 1. Calculate the desired profit margin per hour of labor 2. If the shop repairs a TV that takes 2.5 hours to repair and uses parts of $200, compute the bill for this job -
The company desires a S30.00 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be S380,000. a Compute the rate charged per hour of labor b. Compute the material loading percentage a Jeff Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 25 hours of labor and $2.000 of parts. Compute the total estimated bill Label each part and show ALL your work!