Sandhill Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available forSandhill:Technicians' wages and benefitsParts manager's salary and benefitsOffice employee's salary and benefitsOther overheadTotal budgeted costs(a)Your answer is correct.Time Charges Material Loading ChargesRate charged$192.240$56,96028,480$277,680The company wants a $40 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7.120 hours of repairtime in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $366,000.Calculate the rate charged per hour of labour.$40,26011,89579 per hour18,300$70,455 Your answer is correct.Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%)(c)Material loading percentageeTextbook and Media.Total estimated billWildhorse Corporation has asked for an estimate on rebuilding its spot welder. Sandhill estimates that it would require 35 hoursof labour and $2,300 in parts. Calculate the total estimated bill. (Round answer to 2 decimal places, e.g. 15.25.)eTextbook and Medial39.25 %Save for LaterAttempts: 1 of 2 usedAttempts: 0 of 2 usedSubmit Answer

Labor cost is calculated by multiplying labor rate per hour by labor hours used during the period.…

Your answer is correct. Calculate the material loading percentage. (Round answer to 3 decimal places, eg. 15.251%) (c) Material loading percentage eTextbook and Media. Total estimated bill Wildhorse Corporation has asked for an estimate on rebuilding its spot welder. Sandhill estimates that it would require 35 hours of labour and $2,300 in parts. Calculate the total estimated bill. (Round answer to 2 decimal places, e.g. 15.25.) eTextbook and Medial 39.25 % Save for Later Attempts: 1 of 2 used Attempts: 0 of 2 used Submit Answer

Your answer is correct. Calculate the material loading percentage. (Round answer to 3 decimal places, eg. 15.251%) (c) Material loading percentage eTextbook and Media. Total estimated bill Wildhorse Corporation has asked for an estimate on rebuilding its spot welder. Sandhill estimates that it would require 35 hours of labour and $2,300 in parts. Calculate the total estimated bill. (Round answer to 2 decimal places, e.g. 15.25.) eTextbook and Medial 39.25 % Save for Later Attempts: 1 of 2 used Attempts: 0 of 2 used Submit Answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Given the following information for a product: Direct labor hours: 0.25 hour/unit Direct labor costs: $20/hour Direct materials cost: S5/unit Overhead costs: 110% of direct labor Packaging and shipping: $2/unit Desired profit margin: 2096 of the total cost Suppose that a market survey has shown that the best competitor's selling price for the product is $19.50 per unit. After conducting a value engineering study, It was found that the material cost is high and another equal and less expensive material can be used to achieve the required target cost. What should the material cost per unit be to achieve the required target cost for the product?
Labor data for making one gallon of finished product in Karen Company are as follows. (1) Price-hourly wage rate $15.00, payroll taxes $0.60, and fringe benefits $1.70 (2) Quantity-actual production time 1.6 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) (b) (c) Standard direct labor rate per hour. Standard direct labor hours per gallon. Standard labor cost per gallon. hours
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A manufacturing plant wishes to buy a new equipment so the purchasing department did some research on different types of this equipment. In the monthly meeting, the purchasing department presented a report about the two types of equipment that they have found. Pertinent data are as follows: Турe A Туре В First cost P250,000 P350,000 Annual operating cost 30,000 22,000 Annual labor cost 52,000 34,000 Insurance and property taxes 3% 3% Labor/Payroll taxes 4% 4% Estimated life 10 10 If the minimum required rate of return is 18%, 1. What is the annual worth of Type A? [ Select ] 2. What is the annual worth of Type B? [Select ] 3. Which machine should be selected?[ Select ]
based on the attached what is the answer?
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Are the fixed costs as well as the 'other variable costs" included in the calculations of total overhead?
tonemaier Manufacturing Inc. has begun production on a new product. The primary cost of the product is direct materials with a cost of $1,050. Direct labor is estimated to be $285 per unit, overhead is estimated to be $120 per unit, and selling and administrative expenses are estimated to be $75 per unit. Stonemaier desires a profit of $480 per unit. ----------------------------- What is the required markup percentage on direct materials in order to achieve the desired profit? (provide your answer in decimal format to two decimal places --> i.e. 53.4% = 0.53)
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