Account karan Restorers' wages and fringe benefitsPurchasing agent's salary and fringe benefitsAdministrative salaries and fringe benefitsOther overhead costsTotal budgeted costsProht margin on laborTimeCharges$308,700The company anticipated that the restorers would work a total of 14.700 hours this year. Expected parts and materials were$1.269,000eTextbook and Media73,50029,400$411,600In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountantremembers that the hourly labor rate was $69 and that the material loading charge was 84%SDetermine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, es 10.25 and final answer to 0decimal places, eg 10)MaterialLoadingChargesPront margin on materials$81,12020,40076,140$177,660per hourDetermine the profit margin on materials. Round intermediate calculations to 2 decimal places as 10.25% and final onower todecimal places es 10%)

Profit margin is a financial term that assesses a company's or a specific product's or service's…

Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs $308.700 73,500 29.400 $411,600 $81,120 20,400 76.140 5177660

Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs $308.700 73,500 29.400 $411,600 $81,120 20,400 76.140 5177660

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 1CE: The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include:...

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Concept explainers

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.

Question

Account

karan

Restorers' wages and fringe benefits
Purchasing agent's salary and fringe benefits
Administrative salaries and fringe benefits
Other overhead costs
Total budgeted costs
Proht margin on labor
Time
Charges
$308,700
The company anticipated that the restorers would work a total of 14.700 hours this year. Expected parts and materials were
$1.269,000
eTextbook and Media
73,500
29,400
$411,600
In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant
remembers that the hourly labor rate was $69 and that the material loading charge was 84%
S
Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, es 10.25 and final answer to 0
decimal places, eg 10)
Material
Loading
Charges
Pront margin on materials
$81,120
20,400
76,140
$177,660
per hour
Determine the profit margin on materials. Round intermediate calculations to 2 decimal places as 10.25% and final onower to
decimal places es 10%)

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