- customer has requested a quotation for a machining job consisting of 80 parts. The starting work part is a casting that will cost $17 per casting. The average production time of the job is 13,80 min on an automatic machine whose equipment cost rate is 66 $/h. This rate does not include any overhead costs. Tooling cost is $0,35 per part. The factory overhead rate is 128% and the corporate overhead rate is 230%. These rates are applied only to time and tooling costs, not starting material costs. The company uses a 15% markup (profit margin) on total cost for its price quotes. What is the quoted price for this job?

- customer has requested a quotation for a machining job consisting of 80 parts. The starting work part is a casting that will cost $17 per casting. The average production time of the job is 13,80 min on an automatic machine whose equipment cost rate is 66 $/h. This rate does not include any overhead costs. Tooling cost is $0,35 per part. The factory overhead rate is 128% and the corporate overhead rate is 230%. These rates are applied only to time and tooling costs, not starting material costs. The company uses a 15% markup (profit margin) on total cost for its price quotes. What is the quoted price for this job?

Name: customer has requested a quotation for a machining job consisting of8
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Description: customer has requested a quotation for a machining job consisting of80 parts. The starting work part is a casting that will cost $17 per casting.The average production time of the job is 13,80 min on an automaticmachine whose equipment cost rate is

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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