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(Determine the total price of labor and materials on a job that was completed after the fire that required 143 hours of labor and $56,600 in parts and materials.)

The answer is not 106087.

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Wassons Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.

			Time Charges				Material Loading Charges
	Restorers' wages and fringe benefits			$226,800
	Purchasing agent's salary and fringe benefits							$64,000
	Administrative salaries and fringe benefits			43,200				20,700
	Other overhead costs			10,800				72,600
	Total budgeted costs			$280,800				$157,300

The company anticipated that the restorers would work a total of 10,800 hours this year. Expected parts and materials were $1,210,000. 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 83%.

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Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.)

Profit margin on labor

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per hour

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Determine the profit margin on materials. (Round intermediate calculations to 2 decimal places, e.g. 10.25% and final answer to 0 decimal places, e.g. 10%.)

Profit margin on materials

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%

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Determine the total price of labor and materials on a job that was completed after the fire that required 143 hours of labor and $56,600 in parts and materials.

Total price

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