HH Auto Repair reports the following information for the coming year. Labor rate, including fringe benefits$50per labor hour Annual labor hours 11,400hours Annual materials (parts) purchases$2,140,000 Annual overhead costs: Materials purchasing, handling, and storage$278,200 Other overhead (depreciation, insurance, taxes, rent)$193,800 Target profit margin (on both labor and materials) 32% 1. Compute the price (rate) per hour of direct labor. (Round your answer to 2 decimal places.) 2. Compute the materials markup (in %). 3. What price should the company quote for a job requiring three labor hours and $720 in parts

answercountries with higher real income per capita tend to have higher levels of this index.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.

for storing the moneys