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
icon
Related questions
Question
Sandhill Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for
Sandhill:
Technicians' wages and benefits
Parts manager's salary and benefits
Office employee's salary and benefits
Other overhead
Total budgeted costs
(a)
Your answer is correct.
Time Charges Material Loading Charges
Rate charged
$192.240
$
56,960
28,480
$277,680
The 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 repair
time 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.
$40,260
11,895
79 per hour
18,300
$70,455
Transcribed Image Text:Sandhill Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Sandhill: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Your answer is correct. Time Charges Material Loading Charges Rate charged $192.240 $ 56,960 28,480 $277,680 The 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 repair time 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. $40,260 11,895 79 per hour 18,300 $70,455
Your answer is correct.
Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%)
(c)
Material loading 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
Transcribed Image Text:Your answer is correct. Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 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
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Cost classification
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education