Question

Oriole Company provides financial consulting and has collected the following data for the next year’s budgeted...

Oriole Company provides financial consulting and has collected the following data for the next year’s budgeted activity for a lead consultant.

Consultants’ wages

$95,000

      Fringe benefits

$12,500

      Related overhead

$17,500

Supply clerk’s wages

$17,000

      Fringe benefits

$4,500

      Related overhead

$20,000

Profit margin per hour

$20

Profit margin on materials

15%

Total estimated consulting hours

5,000

Total estimated material costs

$166,000


A consulting job takes 20 hours of consulting time and $180 of materials. The client’s bill would be

Group of answer choices

$1,152

$1,080

$1,125

$972

2)

Sunland Company recently performed repair services for a customer that totaled $680. Somehow the bill was lost and the company accountant was trying to recreate the bill from memory. This is what was remembered:

Total bill

$680

Labor profit margin

10

Materials profit margin

20%

Total labor charges

$470

Cost of materials used

$120

Total hourly cost

$22.5


What was the material loading % used?

Group of answer choices

75%

40%

90%

20%

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