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MATH SOLVE
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Labor time = 6 1/2 hours Overhead rate = 55% Retail price of parts = $114.70 Total cost of job = $23...
4 months ago
Q:
Labor time = 6 1/2 hours Overhead rate = 55% Retail price of parts = $114.70 Total cost of job = $231.08 What is hourly rate for labor?
Accepted Solution
A:
x= hourly rate for labor
Total paid equals hourly rate times # of hours plus price of parts
$231.08= 6 1/2x + $114.70
subtract 114.70 from both sides
116.38= 6.5x
divide both sides by 6.5
$17.90= x
$17.90 is the hourly rate for labor.
Hope this helps! :)