Waterways Continuing Problem (This is a continuation of the Waterways Problem from Chapters 1 through...
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Waterways Continuing Problem (This is a continuation of the Waterways Problem from Chapters 1 through 8.) WCP.9 Part 1 Waterways uses time and material pricing when it bids on drainage projects. Budgeted data for 2022 for installation division 1 are as follows. Waterways Corporation Installation Division 1 Budgeted Costs for Drainage Projects for 2022 Time Charges Material Loading Charges Labour wages (5,760 hours) $241,920 Supervisor's salary $ 60,000 Clerical and accountant wages 63,360 4,000 Drainage supplies manager 40,000 Overhead 51,840 21,000 Total $357,120 $125,000 Waterways desires a $23 profit margin per hour of labour and 25% profit on materials. Materials are transferred in from the manufacturing division. The total estimated invoice cost of materials in 2022 will be $500,000. Instructions a. Calculate the rate per hour of labour. b. Calculate the material loading charge. c. Waterways has been asked to quote on a project to upgrade the drainage for a large city multi-use park. The drainage manager estimates that it will take about a month to complete the project and require 450 hours of labour and $75,000 of materials. Calculate the total estimated bid price for the park project
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