With the Time and Material Pricing Method, the Hourly Time

question 33

Multiple Choice

With the time and material pricing method, the hourly time charge is typically set equal to:

• A) the hourly labor cost.
• B) the hourly labor cost + annual overhead.
• C) the hourly labor cost + an hourly overhead charge + an hourly charge to cover the profit margin.
• D) annual overhead + an hourly charge to cover the profit margin.
• E) the hourly labor cost + an hourly charge to cover the profit margin.

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Definitions:

Learning

Learning is the process of acquiring new understanding, knowledge, behaviors, skills, values, or preferences, often through study, experience, or teaching.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, and inhibition of nearly all voluntary muscles.

Narcolepsy

A neurological disorder that affects the control of sleep and wakefulness, leading to excessive daytime sleepiness and uncontrollable sleep attacks.

Awake

The state of being conscious and aware of one's surroundings, as opposed to being asleep.