Jaycee Auto Repair Has the Following Budgeted Costs for the Next

question 35

Multiple Choice

Jaycee Auto Repair has the following budgeted costs for the next year: $\begin{array}{lcc}&\text { Time Charges }&\text { Material Charges }\\\text { Shop employees' wages and benefits } & \$ 120,000 & \$- \\\text { Parts manager's salary and benefits } & - & 45,000 \\\text { Office employee's salary and benefits } & 30,000 & 15,000\\\text { Other overhead } & 15,000 & 40,000 \\\text { Invoice cost of parts and materials } & - & 400,000\\\text { Total budgeted costs }&\$165,000&\$500,000\end{array}$
- Jaycee estimates that the repairs to a Cadillac Escalade damaged in an accident will take 45 hours of labor and $3,500 in parts and materials.The total cost of the repairs is

• A)$5,890.
• B)$7,890.
• C)$5,775.
• D)$7,015.

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Definitions:

Protestant Ethic

A concept in sociology that attributes the rise of modern capitalism to Protestant work values, emphasizing hard work, discipline, and frugality.

Capitalism

An economic system characterized by private ownership of the means of production and the creation of goods or services for profit.

Economic Conditions

The state of the economy at a given time, including factors such as inflation rates, unemployment levels, and the overall economic growth or recession.

Opium of the People

A metaphor used by Karl Marx to describe religion's role in pacifying and distracting the masses from their immediate sufferings and injustices, creating false consciousness.