Use the Following Information for Questions
the Following Data

question 71

Multiple Choice

Use the following information for questions
The following data are available for Wheels 'N Spokes Repair Shop for 2016: $$\begin{array} { l r } \text { Repair technician's wages } & \$ 150,000 \\\text { Fringe benefits } & 50,000 \\\text { Overhead } & { 80,000 } \\\text { Total } & \$ 280,000\end{array}$$ The desired profit margin is $15 per labour hour.The material loading charge is 35% of invoice cost.It is estimated that 4,000 labour hours will be worked in 2016.
-Wheels 'N Spokes' labour charge in 2016 would be

• A)$50.
• B)$65.
• C)$70.
• D)$85.

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Definitions:

Equity Profit

The portion of net income attributable to the equity holders of a company, representing their share of the earnings.

Share Capital

The total amount of funds raised by a company through the issuance of shares to investors, representing ownership in the company.

Shareholders' Equity

It represents the net assets of a company, calculated as total assets minus total liabilities, and is the ownership interest of the shareholders.

Goodwill Element

The portion of the purchase price in a business combination that exceeds the fair value of the net identifiable assets of the acquired entity, representing intangible assets like brand reputation or customer relationships.