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klio [65]
3 years ago
15

Work the following pricing problems for services rendered. (For all calculations use hundredths.)

Mathematics
1 answer:
Lesechka [4]3 years ago
3 0

Answer:

Hourly Rate = $12.22 per hour

Step-by-step explanation:

\text{Labor Time = }4\tfrac{1}{2}=4.5\thinspace{ hours}

Overhead Rate = 95%

Retail price of parts = $134.75

Total cost of job = $241.98

Cost of labor = Total cost - Retail price

                      = 241.98 - 134.75

                      = $107.23

Now, labor works for 4.5 hours and ears a total amount of $107.23

\implies\text{Amount earned in one hour or hourly rate = }\frac{107.23}{4.5}\\\\\implies \text{Hourly rate = }\$23.83\text{ per hour}

Now, Labor will get 95% overhead rate

⇒ The labor is getting 100% already but an overhead of 95% is also given

\text{So, Hourly Rate = }\frac{23.83}{1+0.95}\\\\\bf\implies\textbf{Hourly Rate = }\$12.22\textbf{ per hour}

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