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TIME AND MATERIAL PRICING! • Total budgeted Time Charges are $345,600. • Total budgeted Material Loading Charges are $165,060

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Answer #1
Computation of Total Price of Job
Labour Charges ( $28.80X 150 Hour) $4,320.00
Parts Cost $60,000.00
Profit on Labour charges ($40X 150 Hour) $6,000.00
Profit margin on Material ( 60000X80%) $48,000.00
Total Price of Job $118,320.00
Working Note:-
Hourly Rate of Labour= Budgted Time Charges/ Expected Labour Hour
=$345600/12000 Hour=$28.80 per Hour

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