Mathematics, 03.03.2021 02:00 Aliyahh5988
Wasson’s Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.
Time
Charges Material
Loading
Charges
Restorers' wages and fringe benefits $292,600
Purchasing agent's salary and fringe benefits $69,930
Administrative salaries and fringe benefits 53,200 21,000
Other overhead costs 13,300 77,940
Total budgeted costs $359,100 $168,870
The company anticipated that the restorers would work a total of 13,300 hours this year. Expected parts and materials were $1,299,000.
In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $69 and that the material loading charge was 82%.
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Wasson’s Classic Cars restores classic automobiles to showroom status. Budgeted data for the current...
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