What is time-and-a-half for $7.51?
1 answer:
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Answer:
Hourly Rate = $12.22 per hour
Step-by-step explanation:
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
Now, Labor will get 95% overhead rate
⇒ The labor is getting 100% already but an overhead of 95% is also given