Question

Work the following pricing problems for services rendered. (For all calculations use hundredths.)

Labor time = 8 hours
Overhead rate = 65%
Retail price of parts = $98.70
Total cost of job = $242.58
What is hourly rate for labor?
a=27.67
b=13.32
c=10.90
d=117.08

Answer 1

8(1.65)R + 98.70 = 242.58
Solve for R
13.2R=242.58-98.7
13.2R=142.88
R=143.88÷13.2
R=10.9....answer