Use the Following Information for Questions -The Labor Rate to Be Used Next Year Assuming 7,500

question 84

Multiple Choice

Use the following information for questions .
Jaycee Auto Repair has the following budgeted costs for the next year: $\begin{array}{lcr}&\text { Time Charges}&\text { Material Charges }\\\text { Shop employees' wages and benefits } & \$ 120,000 & \$ \\\text { Parts manager's salary and benefits } & - & 45,000 \\\text { Office employee's salary and benefits } & 30,000 & 15,000 \\\text { Other overhead } & 15,000 & 40,000 \\\text { Invoice cost of parts and materials } & - & 400,000\\\text { Total budgeted costs }&\$165,000&\$500,000\end{array}$
-The labor rate to be used next year assuming 7,500 hours of repair time and a profit margin of $25 per labor hour is

• A) $22.
• B) $41.
• C) $43.
• D) $47.

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Investment

The allocation of resources, usually financial, in something to earn a return or gain profit.

Equal Alternatives

A situation or choice where the options available have the same value or likelihood.

Frequency

A statistic specifying the number or proportion of items in a class that have a given property.

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