Labor rate = $12 per hour
Hours worked = 36
Overhead rate = 125%
Retail price of good furnished = $185
Sales tax rate = 7%
Total bill for services and parts = $
The answer that I got was 762.80. Can you check my answer.
The question does not give the required context.
Some countries charge sales tax on labour, and some may not.
I believe Overhead rate would be added to the labour, meaning that for every $12 paid to the worker, the customer pays $12(labour)+$15(overhead)=27.
If sales tax does not apply to labour, then the total bill is:
12*36*(1+1.25)+185*1.07=1169.95
If sales tax applies to labour, then the total bill is:
(12*36*(1+1.25)+185)*1.07=1237.99
Double-check the above assumptions about overhead rate and sales tax.
To calculate the total bill for services and parts, we need to consider the labor cost, overhead cost, and the retail price of the goods furnished, as well as the sales tax rate.
First, let's calculate the labor cost:
Labor cost = Labor rate x Hours worked
Labor cost = $12/hour x 36 hours
Labor cost = $432
Next, let's calculate the overhead cost:
Overhead cost = Overhead rate x Labor cost
Overhead cost = 1.25 x $432
Overhead cost = $540
Now, let's calculate the subtotal by adding the labor cost and overhead cost to the retail price:
Subtotal = Labor cost + Overhead cost + Retail price
Subtotal = $432 + $540 + $185
Subtotal = $1157
Finally, let's calculate the sales tax:
Sales tax = Sales tax rate x Subtotal
Sales tax = 0.07 x $1157
Sales tax = $80.99
The total bill for services and parts is the subtotal plus the sales tax:
Total bill = Subtotal + Sales tax
Total bill = $1157 + $80.99
Total bill = $1237.99
Therefore, the correct answer is $1237.99, not $762.80.
To check your answer, we need to calculate the total bill for services and parts.
First, let's calculate the cost of labor:
Labor cost = Labor rate * Hours worked
Labor cost = $12 * 36 = $432
Next, let's calculate the overhead cost:
Overhead cost = Overhead rate * Labor cost
Overhead cost = 125% * $432 = $540
Now, let's find the subtotal by summing up the labor cost and the overhead cost:
Subtotal = Labor cost + Overhead cost
Subtotal = $432 + $540 = $972
To find the total bill, we need to add the retail price of the good furnished:
Total bill = Subtotal + Retail price of good furnished
Let's calculate the sales tax:
Sales tax = Sales tax rate * Retail price of good furnished
Sales tax = 7% * $185 = $12.95
Now, let's calculate the total bill:
Total bill = Subtotal + Retail price of good furnished + Sales tax
Total bill = $972 + $185 + $12.95 = $1169.95
So, it seems like there was an error in your calculation. The correct answer is $1169.95, not $762.80.