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algol13
3 years ago
9

Wassonâs Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.

Business
1 answer:
vaieri [72.5K]3 years ago
7 0

Answer: 71%

Explanation:

The Budgeted material loading charge was 84% of material cost of $1,268,000.

Yet the actual loading cost was $164,840 which means that actual loading cost percentage is:

= 164,840 / 1,268,000 * 100%

= 13%

Profit margin = Budgeted percentage - Actual percentage

= 84% - 13%

= 71%

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