Felix Gallegos owns a plumbing repair business.  The prevailing billing rate for plumbing repairs is $40 per hour.  If Felix charges customers the prevailing rate, what hourly rate (to the nearest penny) can Felix pay his employees to do plumbing repairs if Felix wants to maintain a 75% markup on employees’ hourly pay?

PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN:9781337619783
Author:BIEG
Publisher:BIEG
Chapter2: Computing Wages And Salaries
Section: Chapter Questions
Problem 2SSQ
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Felix Gallegos owns a plumbing repair business.  The prevailing billing rate for plumbing repairs is $40 per hour.  If Felix charges customers the prevailing rate, what hourly rate (to the nearest penny) can Felix pay his employees to do plumbing repairs if Felix wants to maintain a 75% markup on employees’ hourly pay?

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