The following data is available for Coronado Repair Shop for 2019: Repair technicians’ wages $400000 Fringe benefits 70000 Overhead 50000 Total $520000 The desired profit margin is $46 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019. In January 2019, Coronado repairs a bicycle that uses parts of $220. Its material loading charge on this repair would be $132. $88. $150. $284.
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The following data is available for Coronado Repair Shop for 2019:
Repair technicians’ wages | $400000 |
70000 | |
50000 | |
Total |
$520000
|
The desired profit margin is $46 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.
In January 2019, Coronado repairs a bicycle that uses parts of $220. Its material loading charge on this repair would be
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- The following data is available for Swifty Repair Shop for 2019: Repair technicians’ wages $260000 Fringe benefits 75000 Overhead 55000 Total $390000 The desired profit margin is $36 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.In January 2019, Swifty repairs a bicycle that uses parts of $120. Its material loading charge on this repair would be $72. $114. $48. $198.The following data related to labor is available for Bramble Repair Shop for 2019: Repair technicians’ wages $420000 Fringe benefits 85000 Overhead 65000 Total $570000 The desired profit margin is $50 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.Bramble’ labor charge per hour in 2019 would be $114. $164. $151. $134.The following data is available for Wheels ‘N Spokes Repair Shop for 2022: Repair technicians’ wages $360,000 Fringe benefits 80,000 Overhead 60,000 Total $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. Wheels ‘N Spokes’ labor charge per hour in 2022would be Group of answer choices $112. $140. $100. $128.
- The following data is available for Chattanooga Spokes 'N Wheels Repair Shop for 2022: Repair technicians' wages $360,000 Fringe benefits Overhead Total 80,000 60,000 $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of parts invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. In March 2022, Spokes 'N Wheels repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be Enter the amount to two decimal places. Dollar sign not needed.The following data is available for Sheridan Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $410000 90000 $122. $140. $152. $112. 60000 $560000 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. Sheridan' labor charge per hour in 2022 would beThe following data is available for Vaughn Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $380000 70000 60000 $510000 The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Vaughn' labor charge per hour in 2022 would be $102. $110. $124. $136.
- The following data is available for Sunland Repair Shop for 2022: Repair technicians' wages $380000 Employee benefits 70000 Overhead Total 60000 $72.00. $108.00. $264.00. O $147.00. $510000 The desired profit margin is $45 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 January 2022, Sunland repairs a bicycle that uses parts of $180. Its material loading charge on this repair would beSantana Rey expects sales of Business Solutions’s line of computer workstation furniture to equal 300 workstations (at a sales price of $3,300 each) for 2019. The workstations’ manufacturing costs include the following. Direct materials $ 750 per unit Direct labor $ 400 per unit Variable overhead $ 60 per unit Fixed overhead $ 24,000 per year The selling expenses related to these workstations follow. Variable selling expenses $ 45 per unit Fixed selling expenses $ 3,500 per year Santana is considering how many workstations to produce in 2019. She is confident that she will be able to sell any workstations in her 2019 ending inventory during 2020. However, Santana does not want to overproduce as she does not have sufficient storage space for many more workstations.Required:1. Complete the following income statements using absorption costing.2. Complete the following income statements using variable costing.Phoenix Management helps rental property owners find renters and charges the owners one-half of the first month's rent for this service. For August 2022, Phoenix expects to find renters for 100 apartments with an average first month's rent of $1,020. Budgeted cost data per tenant application for 2022 follow: ⚫ Professional labor: 1.5 hours at $20.00 per hour ⚫ Credit checks: $66.00 Phoenix expects other costs, including the lease payment for the building, secretarial help, and utilities, to be $4,600 per month. On average, Phoenix is successful in placing one tenant for every three applicants. Actual rental applications in August 2022 were 270. Phoenix paid $8,400 for 380 hours of professional labor. Credit checks went up to $71 per application. Other costs in August 2022 (lease, secretarial help, and utilities) were $5,200. The average first monthly rentals for August 2022 were $1,120 per apartment unit for 90 units. Required: 1. (a) What is the master budget variance for August 2022?…
- Presented below are data for an electrical repair shop for next year. Time charge Material loading charge Wages 140,000 Fringe benefits 60,000 Overhead 100,000 The rate charge per hour of labor is $70. The material loading charge is 40% of invoice cost of parts and materials. The shop estimates that 10,000 labor hours will be worked next year and the invoice cost of expected parts and materials was 2,000,000. $250,000 100,000 50,000 1. Calculate the desired profit margin per hour of labor 2. If the shop repairs a TV that takes 2.5 hours to repair and uses parts of $200, compute the bill for this job -Below are data for Rent a Wash for next year. Car Detailers' 54,000,000 Wages Fringe Benefit 2,700,000 Overhead 2,000,000 Rent a Wash desires a profit margin 50% per labor hour. The material loading charge is 25% of invoice cost. Rent a Wash estimates that 10,000 labor hours will be worked next year. If Rent a Wash takes 5 hours for car detailing and uses special soap costing Rp75,000 what is the bill for the job?Phoenix Management helps rental property owners find renters and charges the owners one-half of the first month’s rent for this service. For August 2022, Phoenix expects to find renters for 100 apartments with an average first month’s rent of $960. Budgeted cost data per tenant application for 2022 follow: Professional labor: 1.5 hours at $20.00 per hour Credit checks: $64.00 Phoenix expects other costs, including the lease payment for the building, secretarial help, and utilities, to be $4,400 per month. On average, Phoenix is successful in placing one tenant for every three applicants. Actual rental applications in August 2022 were 270. Phoenix paid $8,500 for 390 hours of professional labor. Credit checks went up to $69 per application. Other costs in August 2022 (lease, secretarial help, and utilities) were $5,000. The average first monthly rentals for August 2022 were $1,080 per apartment unit for 90 units. Required: 1. (a) What is the master budget variance for…