Jaycee Auto Repair has the following budgeted costs for the next year:
Time Charges Material Charges
Shop employees' wages and benefits $120,000 $-
Parts manager's salary and benefits - 45,000
Office employee's salary and benefits 30,000 15,000
Other overhead 15,000 40,000
Invoice cost of parts and materials - 400,000
Total budgeted costs $165,000 $500,000
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) $43.
c) $41.
d) $47.
d) $47
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