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Marshall Grocery Delivery Service reports the following information: Rate per hour of direct labor is: Labor rate per hour $ 20 Rate per hour of direct labor $ 25.80 Materials markup 23 % Target profit margin 20 % The materials markup for a job that will use 100 labor hours and $2,000 of materials is:
Marshall Grocery Delivery Service reports the following information: Rate per hour of direct labor is: Labor rate per hour $ 20 Rate per hour of direct labor $ 25.80 Materials markup 23 % Target profit margin 20 % The materials markup for a job that will use 100 labor hours and $2,000 of materials is:
Final answer:The materials markup for a job using100labor hours and materials costing $2,000, at a markup rate of 23%, would be $460. Thetotal costfor the job including labor would be $4,460.Explanation:The subject of this question is the calculation ofmaterialsmarkup in a job cost scenario. The materials markup is the amount added to the cost of materials to ensure profitability. TSo, if the materials cost amounts to $2,000 and the materials markup is23%, the materials markup for the job will be$2,000 * 23/100 = $460. So, the total amount charged for the materials will be $2,000 (actual cost) + $460 (markup) = $2,460.As for the labor cost, it is $20/hour. So for a job requiring 100 laborhours, the labor cost will be 100 hours * $20/hour = $2,000.Therefore, the total cost for the job, including labor and materials, will be $2,000 (labor cost) + $2,460 (materials cost including markup) =$4,460.Learn more about Materials Markup here:brainly.com/question/34034828#SPJ3...