Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Ivanhoe: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged Time Charges Material Loading Charges $175,000 The company wants a $30 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $350,000. Calculate the rate charged per hour of labour. $ LA 35,000 14,000 $224,000 $33,250 8,750 17,500 $59,500 per hour
Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Ivanhoe: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged Time Charges Material Loading Charges $175,000 The company wants a $30 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $350,000. Calculate the rate charged per hour of labour. $ LA 35,000 14,000 $224,000 $33,250 8,750 17,500 $59,500 per hour
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for
Ivanhoe:
Technicians' wages and benefits
Parts manager's salary and benefits
Office employee's salary and benefits
Other overhead
Total budgeted costs
(a)
Rate charged
Time Charges
$175,000
The company wants a $30 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7,000 hours of repair
time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $350,000.
Calculate the rate charged per hour of labour.
tA
35,000
14,000
$224,000
$
Material Loading Charges
per hour
$33,250
8,750
17,500
$59,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5340c3b9-1332-4ae7-b4cf-0f576e0b0993%2F3b0c3548-1610-46c2-9f47-3cc7a191c4af%2F6ozzbu_processed.png&w=3840&q=75)
Transcribed Image Text:Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for
Ivanhoe:
Technicians' wages and benefits
Parts manager's salary and benefits
Office employee's salary and benefits
Other overhead
Total budgeted costs
(a)
Rate charged
Time Charges
$175,000
The company wants a $30 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7,000 hours of repair
time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $350,000.
Calculate the rate charged per hour of labour.
tA
35,000
14,000
$224,000
$
Material Loading Charges
per hour
$33,250
8,750
17,500
$59,500
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