HH Auto Repair reports the following information for the coming year. Labor rate, including fringe benefits$50per labor hour Annual labor hours 11,400hours Annual materials (parts) purchases$2,140,000 Annual overhead costs: Materials purchasing, handling, and storage$278,200 Other overhead (depreciation, insurance, taxes, rent)$193,800 Target profit margin (on both labor and materials) 32% 1. Compute the price (rate) per hour of direct labor. (Round your answer to 2 decimal places.) 2. Compute the materials markup (in %). 3. What price should the company quote for a job requiring three labor hours and $720 in parts
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HH Auto Repair reports the following information for the coming year. Labor rate, including fringe b...
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