Painters' wages and benefits Service manager's salary and benefits Office employee's salary and benefits Cost of paint Overhead (supplies, utilities, etc.) Total budgeted costs BUDGETED COSTS FOR 2022 Time Charges $35.280 (a1) 11,760 Labor rate 15,680 $62,720 $ Material Charges Sandhill budgets 4,000 hours of paint time in Lo22 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. $22,540 2.940 49,000 8,330 On February 15, 2022, Sandhill is asked to prepare a price estimate to paint a small building Sandhill estimates that this job will take 12 labor hours and $490.00 in paint. $82,810 Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Painters' wages and benefits
Service manager's salary and benefits
Office employee's salary and benefits
Cost of paint
BUDGETED COSTS FOR 2022
Time
Charges
$35,280
Overhead (supplies, utilities, etc.)
Total budgeted costs
(a1)
11,760
15,680
$62,720
Labor rate
Material
Charges
$22,540
2.940
Sandhill budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20%
markup on the cost of paint.
49,000
8,330
$82,810
On February 15, 2022, Sandhill is asked to prepare a price estimate to paint a small building Sandhill estimates that
this job will take 12 labor hours and $490.00 in paint.
Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.)
Transcribed Image Text:Painters' wages and benefits Service manager's salary and benefits Office employee's salary and benefits Cost of paint BUDGETED COSTS FOR 2022 Time Charges $35,280 Overhead (supplies, utilities, etc.) Total budgeted costs (a1) 11,760 15,680 $62,720 Labor rate Material Charges $22,540 2.940 Sandhill budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. 49,000 8,330 $82,810 On February 15, 2022, Sandhill is asked to prepare a price estimate to paint a small building Sandhill estimates that this job will take 12 labor hours and $490.00 in paint. Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.)
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