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 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data is available for Wheels ‘N Spokes Repair Shop for 2022:
Repair technicians’ wages $360,000
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.
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