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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 c…

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 c…
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4 votes
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?

asked
User Lannetta
by
7.4k points

2 Answers

5 votes
the answer to that is 10.9 per hour
answered
User Martin Lund
by
8.8k points
4 votes
242.58=8r (1+0.65)+98.70
Solve for r
R=10.9 per hour
answered
User Ross Symonds
by
8.0k points
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