Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits 2$ 70 per hour Annual labor hours 6,400 hours Annual materials purchase Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $1,216, 250 2$ 291,900 24 678,400 25 % What should Shale set as rate per hour of labor hour?

Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits 2$ 70 per hour Annual labor hours 6,400 hours Annual materials purchase Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $1,216, 250 2$ 291,900 24 678,400 25 % What should Shale set as rate per hour of labor hour?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Good morning What is the breakeven point in unit, assuming a product's selling price is $100 fixed costs are 8,000, unit variavle costs are $20, and operating income is $3,200?
Please help me with show all calculation thanku
1. Bronx Lebanon Diagnostic Care has the following cost structure: Fixed Costs $800,000 Variable cost per procedure $35 Charge (revenue) per procedure $110 Assume that the Bronx Lebanon Diagnostic Care expects to perform 7,500 procedures in the coming year. a. Construct the groups base case projected P & L statement. Insert your response here. b. What is the group’s contribution margin? Insert your response here. c. What is the breakeven point? (in number of procedures) Insert your response here. d. Let say they contract with one HMO for all 7,500 procedures and the plan proposes a 20 percent discount from charges. Answer questions a,b,c under these conditions.
[The following Information applies to the questions displayed below.] Alden Company's monthly data for the past year follow. Management wants to use these data to predict future variable and fixed costs. 2234 in Month 1 Units Sold 315,000 Total Cost $ 152,500 160,000 96,250 260,000 200,600 200,000 95,000 5 285,000 196,500 6 185,000 107,000 7 365,000 314,800 8 265,000 146,750 9 77,000 70,000 10 145,000 125,625 11 89,000 89,000 12 95,000 86,650 2. Predict future total costs when sales volume is (a) 370,000 units and (b) 410,000 units. 370,000 units 410,000 units Total cost
Need answer
On the CVP graph, the intersection between the total costs line and the Y axis represents: O a The loss area Ob. The profit area Oc The margin of safety Od. The total fixed cost Oe None of the given answers XYZ company expects the following in the next month: sales volume 50,000 units, contribution margin ratio 60%, the selling price $2per unit, and the total fixed costs $10,000. What will be the degree of operating leverage in the next month? O a 6 O b. 12 Oc 3 Od. None of the choices given O e 25 on
Need correct answer for this question
Manufacturing costs for product X include direct materials $18 per unit, direct labor $4 per unit, variable overhead $2 per unit, and fixed overhead $3 per unit, for a total of $27 per unit. If production volume is increased by 10 units, how much will total manufacturing costs change in the short term? Assume that the new production volume is in the relevant range. (hint: the total cost equation might be useful here) increase by $240 not enough information need to know the original volume increase by $220 increase by $250 O increase by $270
Galla Incorporated needs to determine a price for a new product. Galla desires a 25% markup on the total cost of the product. Galla expects to sell 5,000 units. Additional information is as follows: Fixed Costs (total) Variable Costs per Unit Direct materials Direct labor $ 21 Overhead 22 General and administrative 20 26 Overhead General and administrative Using the total cost method what price should Galla charge? $ 45,000 18,000
Develop an equation for total monthly production costs. Total Monthly Production costs = Fixed Costs + Variable Costs = _____________ + ($ per unit X Number of units) Predict total costs for a monthly production volume of 9,000 units.
[The following information applies to the questions displayed below.] Alden Company's monthly data for the past year follow. Management wants to use these data to predict future variable and fixed costs. Month Units Sold Total Cost Month Units Sold Total Cost 1 324,500 $ 162,000 7 355,500 $ 245,564 2 169,500 105,750 8 274,500 156,250 3 269,500 210,100 9 75,100 60,500 4 209,500 104,500 10 154,500 135,125 5 294,500 206,000 11 6 194,500 116,500 12 98,500 104,500 98,500 77,150 Problem 18-1A (Algo) Part 1 1. Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.) High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per unit Total variable costs at the high point Total fixed costs High-Low method - Calculation of fixed costs Total cost at the low point Variable costs at the low point: Volume at the…
Vala