53) Given the info below, calculate the loaded hourly labor rate67 Project Mgr $80,000/yr38 2080 hours per year39 Proj Manager worked 40 hours/week for 50 weeksSocial security 6,2 % on first $106,800Medicare 1.45% of all wagesFUTA 8 % on first $700040414243SUTA 4.5% of first $18,00044 Workers Comp $7.25 per $100 of wagesGeneral Liability 75% of wages45Health insurance $300/moRetirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5%46474849+

Name: 53) Given the info below, calculate the loaded hourly labor rate67 Pr
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: 53) Given the info below, calculate the loaded hourly labor rate67 Project Mgr $80,000/yr38 2080 hours per year39 Proj Manager worked 40 hours/week for 50 weeksSocial security 6,2 % on first $106,800Medicare 1.45% of all wagesFUTA 8 % on first $7000

According to the given question, we are required to compute the loaded labor rate. Labor rate: The…

Business

Accounting

3) Given the info below, calculate the loaded hourly labor rate 6 3 0 1 2 3 4 45 Project Mgr $80,000/yr 2080 hours per year Proj Manager worked 40 hours/week for 50 weeks Social security 6,2 % on first $106,800 Medicare 1.45% of all wages FUTA 8% on first $7000 SUTA 4.5% of first $18,000 Workers Comp $7.25 per $100 of General Liability .75% of wages wages + 46 Health insurance $300/mo 47 Retirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5% 48 19

3) Given the info below, calculate the loaded hourly labor rate 6 3 0 1 2 3 4 45 Project Mgr $80,000/yr 2080 hours per year Proj Manager worked 40 hours/week for 50 weeks Social security 6,2 % on first $106,800 Medicare 1.45% of all wages FUTA 8% on first $7000 SUTA 4.5% of first $18,000 Workers Comp $7.25 per $100 of General Liability .75% of wages wages + 46 Health insurance $300/mo 47 Retirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5% 48 19

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter5: Activity-based Costing And Management

Section: Chapter Questions

Problem 9MCQ: Assume that the moving activity has an expected cost of 80,000. Expected direct labor hours are...

See similar textbooks

Similar questions

A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Assume that the moving activity has an expected cost of 80,000. Expected direct labor hours are 20,000, and expected number of moves is 40,000. The best activity for moving is a. 4 per move. b. 1.33 per hour-move. c. 4 per hour. d. 2 per move. e. e None of these.
Event Forms expects $120,000 in overhead during the next year. It doesn't know whether it should apply overhead on the basis of its anticipated direct labor hours of 6,000 or its expected machine hours of 5,000. What would be the product cost under each predetermined allocation rate if the last job incurred $3,500 in direct material cost, 55 direct labor hours, and 55 machine hours? Wages are paid at $17 per hour.
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include: Fixed costs (salaries, tools): 64,900 per year Variable costs (supplies): 1.35 per maintenance hour Estimated usage by: Actual usage by: Required: 1. Calculate a single charging rate for the Maintenance Department. 2. Use this rate to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year. 3. What if the Assembly Department used 4,000 maintenance hours in the year? How much would have been charged out to the three departments?
Assume that the inspection activity has an expected cost of 120,000. Expected direct labor hours are 3,000, and expected number of inspections is 600. The best activity rate for inspection is as follows: a. 40 per inspection b. 40 per hour c. 200 per inspection d. 200 per hour
The following data is available for Wheels ‘N Spokes Repair Shop for 2022: Repair technicians’ wages $360,000 Fringe benefits 80,000 Overhead 60,000 Total $500,000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5,000 labor hours will be worked in 2022. Wheels ‘N Spokes’ labor charge per hour in 2022would be Group of answer choices $112. $140. $100. $128.
5. A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 ? per ?. Budgeted direct labor: $1,500,000 ? per ?. Estimated machine hours: 100,000 ? per ?. PLEASE NOTE: Predetermined overhead rates will be rounded to two decimal places and shown with "$" and commas as needed (i.e. $12,345.67). The rates will include their proper label according to the textbook examples (no abbreviations).
A Civil Engineer produces a certain construction material at a labor cost of P16.20 per piece, materials cost of P38.50 per piece and variable cost of P7.40 per piece. The fixed charges on the business is P100,000 a month. If the product is sold for P95.00 each, how many pieces must be made and sold each month to break even?
The seven-month demand for product X is as follows: 500; 6,000; 2,000; 1,500; 4,000; 5,500; and 6,500. You planned to use a level production rate of 4,000 unit per month. a. Compute the cost of the production plan above using the following information: material=P30.00; labor=P9.60; overtime= P14.40; hiring=P500.00; firing=P750; and holding=P5.00/unit.
1. XYZ Corporation budgets factory overhead cost of P500,000 for the coming year. Compute for the overhead cost applied to the job. The following data are available:Budgeted annual overhead for planned production P500,000Budgeted annual direct labor hours 35,000Actual direct labor hours applied to the job 400 hours2. LLC Service Inc. provides professional consultancy services to third-party firms. Professional staff are paid P150 per hour, and their time is billed at P500 per hour. The firm estimates the following total costs for the coming year:Estimated cost of professional staff P3,000,000 (20,000 hours of staff time)Estimated other costs (overhead) 4,000,000Total estimated costs P7,000,000ABC Corp. became a new client of the firm with job requirements of 100 hours of professional staff time. Present in a tabular format the total billing for the job.3. Compute for the total cost of the job in the previous item and the total profit which will be generated by LLC Service Inc. from…
The following data related to labor is available for Bramble Repair Shop for 2019: Repair technicians’ wages $420000 Fringe benefits 85000 Overhead 65000 Total $570000 The desired profit margin is $50 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.Bramble’ labor charge per hour in 2019 would be $114. $164. $151. $134.