The selling price is $ 1140.
Explanation:
Given, average wage for employees per hour = $ 12
Overhead work wage per hour = $ 18
mark up over cost = 20%
Job M-47 took 20 hours, so it would be
=(average wage cost + overhead cost) [tex]\times[/tex] markup over cost + material used cost
= ($ 12 + $ 18) [tex]\times[/tex] 20 + $ 350
= $ 600 + $ 350 of materials
= $950
Total cost = $ 950 [tex]\times[/tex] 1.2 (the 20% mark up over cost)
= $ 1140.
The selling price is $ 1140.
