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Assume that overhead is charged on a flat rate basis. Each member of the project...

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Question

Accounting

Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be the direct cost of labor for an employee, given that she is assigned to the project for 120 hours at $10.50?

Is this correct?

Overhead charge = $300/week = 300 x 3 weeks = $900

Hours assigned = 120

Hourly rate = $10.50

Therefore,

120(hours) x $10.50(hourly rate) + $900(overhead costs) = $2160

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