Waterways has budgeted for 5,760 labor hours.It desires a $12 profit margin per hour of labor and 15% profit on materials. It estimates the total invoice cost of materials in 2009 will be $642,000.
Instructions
(a) Compute the rate per hour of labor. (Round to two decimal places.)
(b)Compute the material loading charge. (Round to two decimal places.)
(c) Waterways has received a request for a bid to do a parkway for the city.The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials.Compute the total estimated bid for the parkway project.