? edugen.wileyplus.com Basic Financial Calculator Download rb...nts-RARBG Facebo

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? edugen.wileyplus.com Basic Financial Calculator Download rb...nts-RARBG Facebook Exercise M-9 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 m available. Material Loa Charges ding Time Charges Technicians' wages and benefits $169,495 Parts manager's salary and benefits Office employee's salary and benefits 30,028 Other overhead Total budgeted costs $34,700 6,880 14,982 38,947 $214,505 $80,527 The company has budgeted for 6,430 hours of technician time during the coming year. It desires a $38.26 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2017 will be $693,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate per hour he Compute the material loading percentage. (Round answer to 2 decimal places,e.g. 10.50.) ost Material loading percentage 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 76 hours of labor and $38,200 of parts. Compute the total estimated bill.(Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill Click if you would like to Show Work for this question: Open Show Work Question Attempts: O of 3 used SAVE FOR LATER S SUBMIT ANSWER JUN 9

Explanation / Answer

1) Rate charged per hour of labor time budgeted rate charges=a hrs=b c=a/b Technicians wages and benefits 169,495 6,430 26.36 office employee's salary and benefits 30,028 6,430 4.67 other overhead 14,982 6,430 2.33 total budgeted costs 214,505 6,430 33.36 Add:Profit margin 38.26 104.98 Rate charged per hr hour Answer= $104.98 2) Material loading percentage material total % loading invoice charges cost A B c=a/b*100 parts managers&office employees salary 41580 693,000 6.00% other overhead 38,947 693,000 5.62% total percentage 80527 11.62% add:profit margin 80% material loading percentage 91.62% Answer - 91.62% answer 3) Total Estimated bill labor charges 76 hours *$104.98= 7978.48 Material charges: cost of material parts 38,200 material loading charges (38200*91.62%) 34998.86 73198.86 total price of labor and material 81177.35 answer

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