Painters' wages and benefitsService manager's salary and benefitsOffice employee's salary and benefitsCost of paintBUDGETED COSTS FOR 2022TimeCharges$35,280Overhead (supplies, utilities, etc.)Total budgeted costs(a1)11,76015,680$62,720Labor rateMaterialCharges$22,5402.940Sandhill 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.49,0008,330$82,810On February 15, 2022, Sandhill is asked to prepare a price estimate to paint a small building Sandhill estimates thatthis 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.)

Labor rate is the amount that is paid to individuals on the basis of hours under the contract…

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.)

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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