Chance. as spot wel ers for manufacturers. The following budgeted cost data for 2020 is available for Second Technicians' wages and benefits Time Charges $260,700 Material Loading Charges
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Thankyou.
![Compute the rate charged per hour of labor.
Labor rate $
GA
H
per hour](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca88f942-5df3-4e8a-8263-1f78e8a64e58%2F2ef3a6d5-1e18-4e49-a29a-e09f33fff25b%2Fri7ywod_processed.jpeg&w=3840&q=75)
![Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second
Chance.
Technicians' wages and benefits
Parts manager's salary and Benefits
Office employee's salary and benefits
Other overhead
Total budgeted costs
Time
Charges
$260,700
55,300
15,800
$331,800
Material
Loading
Charges
$40,300
10,660
29,120
$80,080
The company desires a $38 profit margin per hour of labor and a 24.00% profit margin on parts. It has budgeted for 7,900 hours of
repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $416,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca88f942-5df3-4e8a-8263-1f78e8a64e58%2F2ef3a6d5-1e18-4e49-a29a-e09f33fff25b%2Fyrhhwo_processed.jpeg&w=3840&q=75)
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