Solving for Labor Hours

question 73

Essay

Solving for labor hours.Bill's Engineering Consulting reports the following direct labor information for clerical staff:

Required:
What are the actual hours worked,rounded to the nearest hour?
(Bill's Engineering Consulting;solving for labor hours. )

---

Definitions:

Accounts Payable

Liabilities or money owed by a business to its suppliers or creditors for goods or services received.

Price-Earnings Ratio

A valuation ratio of a company's current share price compared to its per-share earnings.

Market Price

The present rate at which a service or asset is available for purchase or sale in a market.

Earnings per Share

A financial ratio that measures the amount of a company's net income that is theoretically available for payment to holders of its common stock.