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The following data is available for căronado Repair Shop for 2022: Repair technicians' wages $360000 Employee benefits 80000 60000 $500000 Overhead Total The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In March 2022, Coronado repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be $560,00. $616.00. Ⓒ$592.00. $520.00

The following data is available for căronado Repair Shop for 2022: Repair technicians' wages $360000 Employee benefits 80000 60000 $500000 Overhead Total The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In March 2022, Coronado repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be $560,00. $616.00. Ⓒ$592.00. $520.00

FINANCIAL ACCOUNTING
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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The following data is available for căronado Repair Shop for 2022: Repair technicians' wages $360000 Employee benefits 80000 Overhead 60000 $500000 Total The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In March 2022, Coronado repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be $560,00. $616.00. $592.00. $520.00
Transcribed Image Text:The following data is available for căronado Repair Shop for 2022: Repair technicians' wages $360000 Employee benefits 80000 Overhead 60000 $500000 Total The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In March 2022, Coronado repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be $560,00. $616.00. $592.00. $520.00
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