I need help with E) A)$2419.2B)$2614.5C)$5033.7D)46% Mr. Owen brought his combine to your shopfor repairs. The parts cost $1,890 with amarkup of 28 percent. Your mechanic receives $38 per hour. Mr. Owen was charged $83 perhour for labor. It took the mechanic 31.5hours to do the repair work. If Mr. Owencould have the repair done in the off season,he would receive 10 percent off on all partsand 12 percent off on all labor.a. What did the parts cost Mr. Owen?b. What did the labor cost Mr. Owen?c. What was the cost of the repair?d. What percent of the labor chargedMr. Owen did the mechanic receive?e. What would Mr. Owen save if he couldhave the repair done in the off season?

Savings on parts cost = Parts cost to Mr. O*discount rate on parts Savings on labour cost = total…

Answered: e. What would Mr. Owen save if he could…

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e. What would Mr. Owen save if he could have the repair done in the off season?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter12: Nonrecognition Transactions

Section: Chapter Questions

Problem 43IIP

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Question

I need help with E)

A)$2419.2

B)$2614.5

C)$5033.7

D)46%

Mr. Owen brought his combine to your shop
for repairs. The parts cost $1,890 with a
markup of 28 percent. Your mechanic receives

$38 per hour. Mr. Owen was charged $83 per
hour for labor. It took the mechanic 31.5
hours to do the repair work. If Mr. Owen
could have the repair done in the off season,
he would receive 10 percent off on all parts
and 12 percent off on all labor.
a. What did the parts cost Mr. Owen?
b. What did the labor cost Mr. Owen?
c. What was the cost of the repair?
d. What percent of the labor charged
Mr. Owen did the mechanic receive?
e. What would Mr. Owen save if he could
have the repair done in the off season?

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