Question

Labor rate = $8.50 per hour Labor time = 4 3/4 hours Overhead rate = 85% Retail price for parts = $17.75 Total job cost?

Answer 1

the answer to that is 92.44

Answer 2

Total Cost of the job = $92.44

Explanation:

`\text{Labor time = }4\tfrac{3}{4}=(19)/(4)=4.75\text{ hours}`

Overhead rate = 85%

Retail price of parts = $17.75

Let Total cost of job be $x

Hourly rate of the labor = $8.50 per hour

⇒ Total cost = Labor time × (1 + overhead rate) × r + Retail price

⇒ Total Cost = 4.75 × (1 + 0.85) × 8.50 + 17.75

⇒ Total Cost = 4.75 × 1.85 × 8.50 + 17.75

⇒ Total Cost = 74.69 + 17.75

⇒ Total Cost = $92.44

Thus, Total Cost of the job = $92.44