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Waterways Corporation (This is a continsation of the Watervays Problem from Chaptens. through z)...

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Accounting

Waterways Corporation
(This is a continsation of the Watervays Problem from Chaptens. through z) consider a pricing situation for Waterways' projects.
Waterways uses time and material pricing when it bids en irrigation projects.
Buderted data for zoaz are as follows.
WATERWAY CORPORATION
Budgeted Costs for Irrigation Projects for 2022
Time Loading ChargesMaterial Time Leading Charges Charges
Labor wages (5,750 hours) s240,000 Supervisor's salany
Clerical and accouatant wages
$240,000
60,000
53,950
8353,950
860,000
Irrigation aupplies manager
Overhead
Total
3353950
4,000
40,000
21,000
$125,000
Waterways has budgeted for 5,750 labor hours. It desires a 814 proflt margin per hour of labor and 16% profit on materials. It eatimates the total invoice cost of materials in 2022 will be 5640,000
Instruetions
a. Compute the rate per hour of labor. (Round to two decimal places.)
b. Compute the material loading charse. (Round to two decimal places.) estimated price quotation for the parkway project.
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